Company Announcements

2 April 2024

GCM Resources plc

("GCM" or the "Company")

Warrants Exercised

GCM Resources plc (LON: GCM), an AIM quoted mining and energy company, reports an exercise of warrants.

Warrant Exercise

The Company has received a notice to exercise warrants over 2,424,243 new ordinary shares of 1 pence each in the Company ("Warrant Shares") at an exercise price of 1.65 p per Warrant Share, raising £40,000 for the Company.

Application will be made to the London Stock Exchange for, in aggregate, 2,424,243 new Ordinary Shares to be admitted to AIM ("Admission"). It is expected that Admission will become effective on 8 April 2024.  Following Admission, the Company's enlarged issued share capital will comprise 245,596,374 Ordinary Shares with voting rights in the Company. As the Company holds no shares in treasury, this is the total number of the voting rights in the Company which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in the interest, in the share capital of the Company under Chapter 5 of the FCA's Disclosure Guidance and Transparency Rules as reflected in the Company's articles of incorporation.

About GCM Resources

Utilising the latest highly energy efficient power generating technology the Phulbari coal mine can support some 6,600MW. GCM requires approval from the Government of Bangladesh in order to develop the Project. The Company has a strategy of linking the Company's mine proposal to supplying coal to the Government of Bangladesh's existing and in the pipeline coal-fired power plants and / or power plants developed development partners. Together with credible, internationally recognised strategic development partners, GCM aims to deliver a practical power solution to provide the cheapest coal-fired electricity in the country, in a manner amenable to the Government of Bangladesh.