en.Wedoany.com Reported - AIM-listed Fulcrum Metals has entered into a £6 million financing agreement with YA II, an affiliate of Yorkville Advisors Global. The funds will be invested in the construction of a cyanide-free tailings recovery pilot plant in Ontario, Canada. The plant will process material from the Teck Hughes and Sylvanite tailings projects, utilizing cyanide-free technology to recover precious and critical metals while supporting site remediation.

Chief Executive Officer Ryan Mee stated: "With the funding in place, we are advancing the pilot scoping study and can begin securing critical path items and services. Pilot-scale testing of the cyanide-free tailings recovery technology is a key milestone to de-risk the project, refine technical parameters, and advance towards commercial deployment." He emphasized that the company's goal is to transform concepts into bankable assets, creating long-term value for shareholders.

The financing package includes a £500,000 cash subscription at 8.75 pence per share and a £5 million unsecured convertible loan note, split into two equal tranches of £2.5 million each. The first £1 million is available for immediate drawdown, with the remainder subject to shareholder meeting authorization or the satisfaction of conditions. The loan conversion prices are set at 11.375 pence per share and 130% of the VWAP, respectively. The company has also launched a £2.5 million at-the-market issuance facility through Clear Capital Markets, with the first tranche of new shares expected to be admitted to trading on AIM around May 11. Yorkville has partnered with over 750 companies since its inception, and Fulcrum Metals' cyanide-free tailings recovery technology is expected to achieve commercial deployment following the pilot phase.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com