Strategic Loan Note Conversion

Amigo Resources PLC (LSE: AMGO) is pleased to announce a definitive turning point in its strategic evolution into a digital-first mining powerhouse focused on high-growth mining and mineral assets in Africa. The Board has moved to immediately waive all remaining conditions for the full conversion of the Company's remaining mandatory convertible loan notes first announced on 14 November 2025 ("Loan Notes").

The Clean Slate: Decisive Action for Growth

By accelerating the conversion of all remaining Loan Notes well ahead of the original 31 January 2027 longstop date, the Board is providing an unencumbered, high-velocity platform ready for rapid execution. This strategic "clearing of the decks" establishes a debt-free balance sheet at the PLC level, removing remaining contingent liabilities and ensuring the Company possesses the maximum agility and financial velocity required to focus exclusively on its existing operational milestones and the development of its high-quality project pipeline in Tanzania and Mauritania.

Conversion Details and Issue of Equity

Pursuant to the terms of the Loan Notes, the Company shall convert the remaining Loan Notes, representing the final 125,000,000 new ordinary shares of 0.25p each ("Ordinary Shares"), at the agreed conversion price of 0.3p per share.

Craig Ransley, Executive Chair of Amigo Resources PLC, commented:

"The full conversion marks a definitive turning point and the start of a progressive new chapter for Amigo. By simplifying our capital structure and removing all legacy distractions, we have positioned the Company to fully capitalize on the significant mineral opportunities we see in Africa. We are now launch-ready, merging Africa's mineral potential with a digital-first operating model. This streamlined structure gives us the agility to focus 100% on execution, operational excellence, and the delivery of superior value for our shareholders."

Admission and Total Voting Rights

Application will be made for the 125,000,000 new Ordinary Shares to be admitted to the Equity Shares (Commercial Companies) Category of the Official List and to trading on the main market of the London Stock Exchange ("Admission"). It is expected that Admission will become effective and that dealings will commence at 8:00 am on or around 14 April 2026.

The new Ordinary Shares will rank pari passu in all respects with the existing ordinary shares of the Company.

Following Admission, the Company's enlarged issued share capital will comprise 1,190,088,160 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Additional Information