TechFinancials Inc. - Receipt of GMI Placing Proceeds and Operations

TechFinancials, Inc.

("TechFinancials" or the "Company")

23 December 2025

Receipt of GMI Underwritten Placing Proceeds

Company Operations

TechFinancials, Inc. (AQSE: TECH), is pleased to announce that it has received the £250,000 proceeds from the placing announced on 18 September 2025 (the "Placing"). The Company made UK banking arrangements to receive the funds, that have now been received, and the Company looks forward to pushing forwards with its Dilotiko iron ore mining operations in Taita Taveta County Kenya.

The Placing was underwritten by Gathoni Muchai Investments Limited ("GMI"), a Kenyan-based investment banking and corporate finance group. Mining executive, Jason Brewer, is a major shareholder and a director of GMI and is responsible for its investments in the mining sector in Africa.

The Company is excited to commence work on its newly acquired 25% interest in the Dilotiko Project and is making all the necessary arrangements to complete, amongst other things, its name change to Ubuntu Mining and Metals, Inc. and the re-designation of its website. A further announcement will be made in due course. Under the terms of its Acquisition with Dilotiko Ltd, the Company has the option to acquire up to 60% of the Dilotiko Project and become the operator.

About Dilotiko

 The Dilotiko Project is an advanced iron ore project that is located close to key existing road and rail infrastructure and located within a 220-acre site in Taita Taveta County in Kenya and approximately 325km from the country's capital city Nairobi.

A Mining Permit application over the Dilotiko Project area, was lodged and accepted in January 2025 by the Kenyan Ministry of Mines and is currently undergoing final evaluation ahead of its expected approval.

Iron ore mining has been carried out in Taita Taveta County for several decades and major investment is underway in steel processing and pelletisation plants to process locally mined iron ore. The Kenyan Government has further designated Taita Taveta County as a strategic centre for iron ore processing and value addition in the country.

Historical exploration at the Dilotiko Project has confirmed the presence of high-grade hematite and magnetite iron ore mineralisation within consistent and well understood geological structures. Previous diamond core drilling has been completed and this has formed the basis of a preliminary and non-JORC compliant mineral resource estimate of an initial 22.2 million tonnes of iron ore across the Dilotiko Project area. Sampling for metallurgical analyses has further been completed with results demonstrating iron grades of up to 63% in the hematite and magnetite ores and based on these results and further analyses in Kenya, a non-binding Letter of Intent has already been received in respect to the purchase of iron ore from the Dilotiko Project from a domestic steel manufacturer.

Early-stage mine development studies have been completed based on a conventional open pit, drill and blast and load and haul mining operation with processing of the iron ore through a simple dry beneficiation process of crushing and screening plant to produce high-grade iron ore products suitable for the domestic market and with the potential to access international export.

The directors of the Company accept responsibility for the contents of this announcement.

 For further information:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").