Technology Minerals PLC (LSE:TM1) told investors it has now completed its first drawdown under a £5 million convertible bond facility announced earlier this month.
The company, in a brief stock market statement, said the drawdown was for £1 million.
The company announced the facility earlier this month and said it would primarily be used for working capital purposes at Recyclus' lithium-ion battery recycling plant in Wolverhampton, in which Technology Minerals owns a 48.35% stake.