Corcel PLC Sale of Tring Road Peaker Project (5264G)

TIDMCRCL

RNS Number : 5264G

Corcel PLC

16 November 2022

16 November 2022

Corcel PLC

("Corcel" or the "Company")

Sale of Tring Road Peaker Project

Corcel Plc (London AIM: CRCL), the natural resource exploration and development company, with interests in battery metals and flexible energy generation and storage, announces that it has sold it's 40% interest in the Tring Road 50MW gas peaking project outside of Aylesbury to Terra Firma Ltd. The Company has agreed a sales price of GBP317,946, with GBP121,146 to be paid immediately and a further GBP196,800 at completion. The Company intends to use these funds, once received, to further reduce its recently restructured debt, as announced on 31 October 2022.

For the year ended 31 July 2021 the losses attributable to the asset were GBP425 and the investment was held in the Company's interim accounts balance sheet at GBP400,000 on 31 December 2021.

Scott Kaintz, CEO of Corcel commented:

"The disposal of the Tring Road Gas peaking project and the MOU in respect of the restructuring of the Company's PNG based battery metal interests through the proposed Singaporean joint venture with NPC announced in October, are significant milestones in the ongoing transformation of Corcel's business interests. We look forward to announcing further developments of these efforts in due course."

For further information, please contact:

Scott Kaintz 020 7747 9960 Corcel Plc CEO

James Joyce / Andrew de Andrade 0207 220 1666 WH Ireland Ltd NOMAD & Broker

Simon Woods 0207 3900 230 Vigo Communications IR

This announcement contains inside information under Article 7 of Regulation (EU) 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISFFAESIEESESF

(END) Dow Jones Newswires

November 16, 2022 02:00 ET (07:00 GMT)