Marula Mining Plc - Discharge of Debenture

Marula Mining Plc - Discharge of Debenture

PR Newswire

London, April 24

Marula Mining PLC

("Marula'' or the "Company")

24 April 2023

Discharge of Debenture

Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to confirm that further to the RNS dated 6 April 2023 and the conversion of all the convertible loan notes ("CLN") issued to Brahma Finance (BVI) Limited ("Brahma"), the debenture held by Brahma over Marula's assets has now been discharged.

As a result of the conversion of the CLN and discharge of the debenture, the Company is now debt free.

Jason Brewer, Marula Mining PLC CEO said:

"We are pleased that as a result of Brahma's discharge of the debenture, Marula is now debt free. Today's announcement is exciting for Marula, as it confirms the continued strengthening of the Company's balance sheet. I am delighted to have Brahma as a significant shareholder.

"I look forward to updating shareholders in due course on the progress of Marula's operations across the African continent."

Further Information

Further to Marula's announcement on 6 April 2023 regarding Brahma converting all of the £265,000 of CLNs into ordinary shares and subsequently becoming the Company's largest shareholder, Marula can confirm that the debenture held by Brahma over the Company's assets has now been discharged.

The Directors of Marula are responsible for the contents of this announcement.

About Marula Mining

Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine, Bagamoyo Graphite Project and Nyorinyori Graphite Project in Tanzania. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.

Marula's strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy.

Marula's shares are traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, and Kenya's Nairobi Securities Exchange.

For enquiries contact:

Marula Mining PLC Jason Brewer, Chief Executive Officer Faith Kinyanjui Mumbi Investor Relations	Email: [e-mail] Email: [e-mail]
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti	[phone]
Broker Peterhouse Capital Limited, Charles Goodfellow / Duncan Vasey	[phone]
Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren	[phone]

Caution

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi?ed by their use of terms and phrases such as 'believe', 'could', "should" 'envisage', 'estimate', 'intend', 'may', 'plan', 'potentially', "expect", 'will' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re?ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.