Harena Rare Earths Plc (LSE: HREE, OTCQB: CRMNF), the rare earths company focused on the Ampasindava ionic clay rare earth project in Madagascar (the “Ampasindava Project”), is pleased to announce that it has raised gross proceeds of £2.0 million through a direct subscription for 90,909,090 new ordinary shares of 0.5 pence each in the Company (the “Subscription Shares”) by a prominent international investor (the “Subscription”). The Subscription Shares will be issued at a price of 2.20 pence per new Subscription Share (the “Subscription Price”).

The Subscription Shares will be issued pursuant to the Company’s existing authorities to allot shares. The Subscription is conditional upon Admission (as defined below).

 

Use of Proceeds

The net proceeds of the Subscription will be used for the continuation of development work on the Ampasindava Project, engagement with the U.S. International Development Finance Corporation (“DFC“) and for ongoing working capital requirements.

 

Admission

Application will be made for the Subscription Shares to be admitted to trading on the Main Market of the London Stock Exchange (“Admission”). Admission is expected to take place at 8.00 a.m. on or around 23 February 2026.

Ivan Murphy, Executive Chairman of Harena, said:

“I am delighted to welcome this new globally recognised international investor, whose investment is another endorsement of our world-class rare earth project and our strategy for its development.”

For further information please contact:

Harena Rare Earths Plc Ivan Murphy, Executive Chairman Allan Mulligan, Executive Technical Director	+44 (0)20 7770 6424
SP Angel – Joint Broker Ewan Leggat / Josh Ray (Corporate Finance)	+44 (0)20 3470 0470
Marex Financial – Corporate Advisor Angelo Sofocleous / Keith Swann / Matt Bailey (Broking)	+44 (0)20 7655 6000 corporate@marex.com
Allenby Capital – Financial Adviser & Joint Broker Jeremy Porter / Vivek Bhardwaj (Corporate Finance) Amrit Nahal / Kelly Gardiner (Sales & Corporate Broking)	+44 (0)20 3328 5656 info@allenbycapital.com
Muriel Siebert & Co. – US Financial Adviser & Broker Ajay Asija, Co-Head of Investment Banking	+1 (917) 902 7823 aasija@siebert.com
Celicourt Communications – Public Relations Mark Antelme / Charles Denley-Myerson	+44 (0)20 7770 6424 harena@celicourt.uk