Aterian PLC - Issue of Convertible Loan Notes

Aterian PLC has issued £500,000 of £1 convertible loan notes (CLNs) convertible into Ordinary Shares at a 0.7 pence per share, a 12% premium. The net proceeds will fund exploration in Morocco, operations in Rwanda and Botswana, and enhance financial flexibility. Director Simon Rollason and Altus Exploration Management Limited, a significant shareholder, have subscribed for £42,666.40 and £457,333.60 of CLNs, respectively. Director Rollason sold 6,095,200 Ordinary Shares, while Altus sold 65,333,371 Ordinary Shares, keeping 175,840,152 Ordinary Shares. Chairman Charles Bray highlighted the premium issue in a challenging market and expressed gratitude for investor trust. The Company is positioning to launch strategic initiatives and create value, with a focus on Moroccan assets.