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VANCOUVER, British Columbia, July 23, 2025 (GLOBE NEWSWIRE) — Cornish Metals Inc. (AIM/TSX-V: CUSN) (“Cornish Metals” or the “Company”), a mineral exploration and development company focused on advancing its wholly owned and permitted South Crofty tin project in Cornwall, United Kingdom, announces the exercise of stock options for 800,000 common shares without par value at an exercise price of 10 cents per common share (“New Shares”) for an aggregate consideration of C$80,000 (equivalent to £43,316).
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The New Shares will rank pari passu with the existing shares and application has been made for the 800,000 New Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective and dealings in the New Shares will commence at 8:00am on or around July 28, 2025. The New Shares will also trade on the TSX Venture Exchange.
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Following Admission, Cornish Metals’ Issued and Outstanding share capital will consist of 1,253,501,993 common shares. The Company does not hold any common shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.
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Following the issue of the New Shares, the Company’s outstanding stock options, warrants and performance share units are as set out in the table below:
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| Outstanding | Exercise Price | Exercisable | Expiry date | ||
| Options | 3,600,000 | C$0.10 | 3,600,000 | August 19, 2025 | |
| 7,266,667 | C$0.331 | 2,866,380 | July 17, 2028 | ||
| 800,000 | C$0.331 | 266,640 | October 1, 2028 | ||
| 10,200,000 | C$0.162 | – | August 19,2029 | ||
| 2,500,000 | C$0.162 | – | October 21, 2029 | ||
| Warrants | – | – | – | – | |
| Performance Share Units | 12,837,423 | – | – | May 23, 2035 | |
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1 Pursuant to the terms of the share option award, the exercise price of these options is £0.18 for non-Canadian option holders or $0.30 for Canadian option holders.
2 Pursuant to the terms of the share option award, the exercise price of these options is £0.085 for non-Canadian option holders or $0.14 for Canadian option holders.
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ABOUT CORNISH METALS
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Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) that is advancing the South Crofty tin project towards production. South Crofty:
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- is a historical, high-grade, underground tin mine located in Cornwall, United Kingdom and benefits from existing mine infrastructure including multiple shafts that can be used for future operations;
- is permitted to commence underground mining (valid to 2071), construct a new processing facility and for all necessary site infrastructure;
- would be the only primary producer of tin in Europe or North America. Tin is a Critical Mineral as defined by the UK, American, and Canadian governments as it is used in almost all electronic devices and electrical infrastructure. Approximately two-thirds of the tin mined today comes from China, Myanmar and Indonesia;
- benefits from strong local community, regional and national government support with a growing team of skilled people, local to Cornwall, and could generate over 300 direct jobs.
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