News Release for Early Warning Report Regarding Cygnus Metals Limited
BERKSHIRE, England, June 09, 2026 (GLOBE NEWSWIRE) -- Ocean Partners Holdings Limited (“Ocean Partners”), a company with a head office of The Pearce Building, Third Floor, West Street, Maidenhead, Berkshire, SL6 1RL, United Kingdom, announced that on June 2, 2026, Cygnus Metals Limited (the "Issuer") entered into an definitive agreement (the "Cygnus Agreement") with Central Asia Metals PLC ("CAML"), pursuant to which CAML has agreed to purchase 100% of the issued and outstanding ordinary shares of the Issuer (the "Cygnus Shares"). CAML also entered into a call-option deed (the "Call Option Deed") with Ocean Partners and Ocean Partners UK Limited ("OP UK"), a wholly-owned subsidiary of Ocean Partners, for the right to acquire a total of 120,906,526 Cygnus Shares (the "Call Option Shares") held by OP UK, subject to certain terms and conditions (the "Call Option"), representing 9.9% of the issued and outstanding Cygnus Shares.
As of the dated of the Call Option Deed, Ocean Partners owned, directly or indirectly, or exercised control or direction over 156,201,460 Cygnus Shares, which represented approximately 12.8% of the total number of issued and outstanding Cygnus Shares. If the Call Option conditions are satisfied and CAML acquires the Call Option Shares, Ocean Partners will then own, directly or indirectly, or exercise control or direction over 35,294,934 Cygnus Shares, which represents approximately 2.9% of the total number of issued and outstanding Cygnus Shares.
No cash consideration was paid or will be paid in connection with the Call Option Deed or acquisition of the Call Option Shares if the Call Option conditions are met. For every Call Option Share sold to CAML under the Call Option Deed, CAML will issue 0.06 CAML share, valued at A$0.176 per Call Option Share, which is equivalent to C$0.177 as of June 2, 2026.
Ocean Partners and OP UK entered into the Call Option Deed in connection with CAML's acquisition of 100% of the issued and outstanding Cygnus Shares. In accordance with applicable securities laws, Ocean Partners may, from time to time and at any time, acquire additional Cygnus Shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of Cygnus in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, the whole depending on market conditions, the business and prospects of the Issuer and other relevant factors.
A copy of the Early Warning Report filed under applicable securities laws is available under Cygnus’ profile on SEDAR+ (www.sedarplus.ca).
For more information, please contact:
Ocean Partners Holdings Limited
The Pearce Building
Third Floor, West Street
Maidenhead, Berkshire
SL6 1RL UK
Telephone: (44) 1628644060
E-mail: brent.omland@oceanpartners.com
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