Completion of MERN Transfers and Strategic Chinese Investment Update

MetalsTech Limited (MTC or the Company) is pleased to announce that the Quebec Government and the Minister of Energy and Natural Resources Quebec (MERNQ) have formally completed and registered the transfer of the mining claims into MTC subsidiaries. The finalisation of this process allows for the completion of the $4.8m funding deals with chemical producer Wuxi Baichuan Chemical Industry Co Ltd (BCC) and battery manufacturer Dynavolt Renewable Energy Technology Co Ltd (Dynavolt).

Highlights

Mining Claims Transfers

• Quebec Government and the MERNQ have formally completed and registered the transfers of the mining claims into MTC subsidiaries pursuant to various acquisition agreements and direct claim staking

• The completion of this key milestone paves the way for strategic investments from BCC and Dynavolt

Dynavolt Strategic Investment

• Dynavolt is one of the largest battery manufacturers globally and a market leader in EV car and motorcycle batteries with a market capitalisation of more than 10 billion CNY

• Dynavolt to subscribe for 10,000,000 MTC shares at a price of $0.30 per share to raise
$3,000,000 with 6 months’ escrow, subject to regulatory approval, for which the Company will be
seeking shareholder approval

• MTC to facilitate Dynavolt share accumulation strategy by introducing third party shareholders (and advisors) for the acquisition of up to a further 5,000,000 MTC shares through on-market purchases

• If Dynavolt increases its share ownership to >12.5% Dynavolt will earn:

o a right to participate in placements for 12 months to maintain ownership position
o a right to match any project-level investment by a third party within 12 months up to 10% project-level interest

• If Dynavolt increases its share ownership to >15% Dynavolt will earn a Board seat

The full announcement can be found by CLICKING HERE