The Seventy Ninth Group, acknowledges today’s announcement by First Class Metals PLC (“First Class Metals” or “FCM”). FCM is a UK-listed company focused on discovering economic metal deposits across its exploration properties in Ontario, Canada. The announcement relates to the posting of a circular and a notice of a General Meeting (“GM”). The GM seeks shareholder approval for the first stage of the conditional subscription by The Seventy Ninth Group. This follows the initial announcement made on 18 December 2024.
The GM is due to be held at The Waterfront Hotel, Marine Lake, Southport Pier, Southport, PR9 0DZ, at 11 a.m. on 24 February 2025.
You can view the FCM announcement HERE
David Webster, Chairman of The Seventy Ninth Group, commented:
“We are pleased with the progress being made to date as we advance our strategic investment into First Class Metals. Our strategy is built on advancing and supporting undervalued and high-potential assets globally, so this strategic investment with FCM is a great example of us delivering on this.”
“The team and I look forward to the outcome of the meeting and, given the support of the FCM Directors, we are optimistic that the necessary approvals will be secured. This would mark the completion of the first stage of the subscription, resulting in an investment of approximately £2.18 million by The Seventy Ninth Group into FCM. This investment will contribute to exploration efforts at FCM’s assets, and we eagerly anticipate the results of the winter work programme.”