Metals Acquisition (MTAL) Announces 1.83M Share Private Placement at $11/sh

Metals Acquisition Limited (NYSE: MTAL) (“MAC” or the “Company”) is pleased to announce that it has entered into subscription agreements with certain existing and new accredited investors to sell and issue an aggregate of 1,827,096 ordinary shares, par value $0.0001 per share, (the “Ordinary Shares”) of the Company at a price of $11.00 per Ordinary Share, for aggregate gross proceeds of approximately $20 million through a private placement financing (the “Private Placement”). Settlement and issue of new Ordinary Shares will occur shortly.

The net proceeds from the financing will be used to accelerate exploration drilling and mine development at the CSA copper mine, for working capital and general corporate purposes.

Mick McMullen, CEO of MAC commented “We are accelerating the implementation of many of the opportunities we have identified during the first three months of ownership of the CSA copper mine. With additional capital we expect to bring forward some of the previously unrealized value that exists at CSA. Our existing shareholders have strongly participated in the offer and we are very happy to have a shareholder base who continue to support us in our efforts to unlock value at the CSA mine.”

Scotiabank and Ashanti Capital are acting as joint placement agents in connection with the Private Placement.

The Ordinary Shares offered pursuant to the Private Placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements. This notice is does not constitute an offer to sell, nor a solicitation for an offer to purchase, the securities referenced herein. In connection with the Private Placement, the Company has agreed to file a registration statement on Form F-1 with the Securities and Exchange Commission registering the resale of the securities sold to U.S. Persons in the Private Placement.

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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