Black Iron investor RAB Capital sells 6.27M shares

Executive Summary

• RAB Capital Holdings Ltd., controlled by William Philip Richards, disclosed the open market disposal of 6,278,500 common shares of Black Iron Inc.
• The transaction reduced RAB Capital's beneficial ownership from approximately 12.94% to 10.78% of Black Iron's outstanding shares.
• The disposal was executed for investment purposes over a multi-month period, with the reporter maintaining a long-term investment stance and the potential for future open market or private transactions.

Key Details

• Shares Disposed: 6,278,500 common shares of Black Iron Inc.
• Aggregate Consideration: $859,514
• Average Sale Price: 13.73 cents per common share
• Transaction Period: May 15, 2025, to January 22, 2026
• Pre-Disposal Ownership: 39,274,500 shares (~12.94% of outstanding shares on non-diluted and partially diluted basis)
• Post-Disposal Ownership: 32,996,000 shares (~10.78% of outstanding shares on non-diluted and partially diluted basis)
• Reporting Party: William Philip Richards / RAB Capital Holdings Ltd.
• Transaction Purpose: Investment purposes; long-term view maintained
• Future Intent: May acquire or dispose of additional Black Iron securities on the open market or privately, contingent on market conditions, plan reformulations, or other factors
• Regulatory Filing: Early warning report filed and available on Black Iron's SEDAR+ profile
• Contact Information: RAB Capital, 44-0-20-7389-7000 (6 Kilmington Close, Brentwood, United Kingdom, CM13 2JZ)