Warrant Exercise, CLN Repayment and TVR

19 October 2020

Pathfinder Minerals Plc

("Pathfinder" or the "Company")

Warrant Exercise, CLN Repayment and TVR

Pathfinder announces that it has received notice of the exercise of warrants to subscribe for a total of 4,166,666 new ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares"). These warrants were issued as part of the Company's Convertible Loan Note fundraising announced on 3 April 2020 ("April 2020 CLN") and the exercise price of these warrants was 0.6p per warrant. 

As documented in the April 2020 CLN agreement, the funds received by the Company in relation to the exercise of these warrants will be netted off against the principal repayments due to the applicable April 2020 CLN holders on 1 December 2020. As such, the outstanding principal amount has reduced from £102,000 to £77,000. 

The interest due on the April 2020 CLN has also been reduced as a result of the exercise of warrants from £6,568 to £5,231 at expiry on 1 December 2020. No other terms of the April 2020 CLN have been affected.

Application for Admission to Trading on AIM and Total Voting Rights

Application will be made for the 4,166,666 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on or around 26 October 2020.

Upon Admission, the Company's issued share capital will consist of 376,557,163 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 376,557,163. 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.

Enquiries:     

Pathfinder Minerals Plc

Peter Taylor, Chief Executive Officer

Tel. +44 +44 (0)20 3143 6748

Strand Hanson Limited (Nominated & Financial Adviser and Broker)

James Spinney / Ritchie Balmer / Jack Botros

Tel. +44 (0)20 7409 3494

Vigo Communications (Public Relations)

Ben Simons / Simon Woods

Tel. +44 (0)20 7390 0234

Email. pathfinderminerals@vigocomms.com

Novum Securities Limited (Broker)

Colin Rowbury / Jon Belliss

Tel. +44 (0)20 7399 9400

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").