Adriatic Metals (ASX: $ADT) bond conversion and share allotment

Adriatic Metals PLC (ASX: $ADT) has allotted 10,981,770 new ordinary shares in connection with the conversion of unsecured convertible bonds by Queens Road Capital Investment Ltd. The shares were allotted at a conversion price of AU$2.7976 per share and are expected to be admitted to the London Stock Exchange's Main Market for listed securities on or around 8 March 2024.

Adriatic Metals Managing Director & CEO's remarks on share allotment

I am delighted to welcome QRC as an equity shareholder in Adriatic following their decision to exercise their right to convert their bonds into equity. I would like to thank them for their long term ongoing support as we ramp the Vares Project up to nameplate capacity.

Adriatic Metals share allotment and outlook

Adriatic Metals PLC (ASX: $ADT) has successfully allotted over 10.9 million new ordinary shares in connection with the conversion of unsecured convertible bonds by Queens Road Capital Investment Ltd. The shares were allotted at a conversion price of AU$2.7976 per share and are expected to be admitted to the London Stock Exchange's Main Market for listed securities on or around 8 March 2024. The company's Managing Director and CEO expressed delight in welcoming QRC as an equity shareholder and thanked them for their ongoing support. Adriatic Metals continues to advance the world-class Vares Silver Project in Bosnia & Herzegovina and the Raska Zinc-Silver Project in Serbia, with the Vares Silver Project being fully funded to production as of February 2024.