Extension of CCL Debt Facility

In brief · summary, not quotable

Neoterra Group PLC has secured an extension to its debt facility with Catalyse Capital Limited, pushing the maturity date to October 30, 2027. The revised terms include a fixed interest rate of 15%, a £50,000 reprofiling fee, the cancellation of a conversion right into ordinary shares at £0.025, and the issuance of 25 million warrants exercisable at £0.02 for two years. This extension provides an additional year of runway for the company's fluorspar and rare earths work programmes.

Full announcement

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NeoTerra (LSE: TERA) (OTCQB: ANRCF), the African critical minerals exploration and development company, announces that it has agreed with Catalyse Capital Limited ("CCL") an extension to the Company's existing debt facility (the "Facility") to 30 October 2027.

Terms of Debt Extension

The Company has agreed with CCL to an extension to the Facility, on the following terms:

extension to the maturity date of 30 October 2027;
fixed interest rate of 15%*;
a one-off reprofiling fee of £50,000*;
cancellation of conversion right into Ordinary Shares at £0.025; and
the grant of 25m warrants, exercisable at £0.02 for 2 years.

*payable in cash or shares at the lender's discretion

Cédric Simonet, CEO of NeoTerra, commented:

"This extension provides the Company with a further year of runway under the facility, as we continue to progress the fluorspar work programme at Monte Muambe using our existing cash resources, and the rare earths work programme using the USTDA grant. The extension reflects CCL's continued support for, and confidence in, the Company, for which we are grateful."

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NeoTerra Group Plc

Cédric Simonet, CEO +44 (0) 7769 555 757 (Cedric.Simonet@neoterra-group.com)

Louise Adrian, CFO +44 (0) 7721 492 922 (Louise.Adrian@neoterra-group.com)

Strand Hanson (Financial Adviser) +44 (0) 20 7409 3494

Christopher Raggett

Imogen Ellis

Zeus Capital (Corporate Broker) +44 (0) 20 3829 5000

Simon Johnson

James Hornigold

13.6Mt at 2.42% TREO
3.48Mt at 20.6% CaF2
11.73Mt at 54.7g/t Ga2O3

The project is held under a 25-year mining licence and has received US Government support in the form of a US$1.875 million grant from USTDA to advance the rare earths component through the prefeasibility stage.

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.