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Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.

Zinnwald Lithium plc / EPIC: ZNWD.L / Market: AIM / Sector: Mining

14 December 2021

Zinnwald Lithium plc ("Zinnwald Lithium" or the "Company")

Result of Placing and Retail Offer

Zinnwald Lithium plc, the German focused lithium development company, is pleased to announce the successful conclusion of the Placing and Retail Offer, details of which were announced yesterday. A total of approximately £5.8 million (before expenses) has been raised in the Fundraising.

A total of approximately 13.2 million Placing Shares have been placed with institutional and professional investors by Oberon Capital, at the Placing Price.  As a result, the participation of Mr Henry Maxey in the Placing has been scaled back to approximately 12.6 million Placing Shares.

In conjunction with the Placing, retail and other investors have subscribed for approximately 11.7 million Retail Shares at the Placing Price pursuant to the offer made by the Company via the PrimaryBid platform, with approximately 40 per cent. of these being subscribed by existing shareholders of the Company.  The Retail Offer raised gross proceeds of approximately £1.8 million for the Company.

Application has been made for the 37,789,511 New Ordinary Shares, to be issued in relation to the Fundraising, to be admitted to trading on AIM ("Admission") and Admission is expected to occur on or around 20 December 2021.

Anton du Plessis, CEO of Zinnwald said: 

"I am pleased to announce the results of this successful Fundraising to enable us to advance the development of the Zinnwald Lithium Project with the target of being a meaningful European lithium producer.   The last 15 months have been a transformative time for the Company and I welcome all our new investors to the Company and thank our existing shareholders for their ongoing support."

Total Voting Rights

Upon Admission, the Company's issued share capital will consist of 293,395,464 Ordinary Shares with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 293,395,464. With effect from Admission, this figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company on 13 December 2021 to announce the launch of the Fundraising.

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Notes

Zinnwald Lithium plc (EPIC: ZNWD.L) is an AIM quoted, German focused lithium development company focussed on becoming an important supplier to Europe's fast-growing battery sector. The Company owns the Zinnwald Lithium Project in Germany, a late-stage development project with attractive economics and approved mining licence.  A Feasibility Study, published in June 2019, highlighted a €428m pre-tax NPV, a pre-tax IRR of 27.4% and a 46% EBITDA margin for Zinnwald.  The project is located in the heart of Europe's chemical and automotive industries and has the potential to be one of Europe's most advanced battery grade lithium projects.