Neometals (ASX / AIM: NMT)
Announced that it has received firm commitments from sophisticated, professional
and institutional investors for its placement of 44,444,445 new fully paid ordinary shares at A$0.09 per New Share to raise approximately A$4 million (before costs).
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Neometals Successfully Closes A$4 Million Placement and Announces Entitlement Offer
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Neometals Ltd (ASX: NMT & AIM: NMT) (“Neometals” or “the Company”), is pleased to announce that it has received firm commitments from sophisticated, professional
and institutional investors for its placement of 44,444,445 new fully paid ordinary shares (New Shares) at A$0.09 per New Share to raise approximately A$4 million (before costs) (Placement).
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Neometals Managing Director Chris Reed commented:
“We are pleased to announce the Entitlement Offer and conclusion of the Placement which was supported by new and existing sophisticated investors and institutions.
“The capital raising will reinforce commercialisation activities by Neometals’ battery recycling plant building joint venture, Primobius, as it delivers its maiden plant for Mercedes-Benz.
“The successful validation of our process and plant supply business model at scale is the precursor to offering commercial plants to our growing pipeline of current and
prospective customers and technology licence holders.
“Neometals management appreciates the long-term support and efforts of lead manager Euroz Hartleys as well as further investment from existing shareholders”.
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Placement
A total of 44,444,445 New Shares will be issued under the Placement at a price of A$0.09 per New Share (Offer Price) under NMT’s ASX Listing Rule 7.1 placement capacity.
The total number of New Shares to be issued under the Placement represents approximately 6.4% per cent of the Company’s existing issued share
capital (prior to the issue of the New Shares).
New Shares issued under the Placement will rank equally with existing NMT ordinary shares from their date of issue.
Settlement of the Placement is scheduled to occur on Thursday, 17th October 2024. Allotment and normal trading of the New Shares under the Placement is scheduled to occur on Friday, 18th October 2024.
New Shares issued under the Placement do not have rights to participate in the Entitlement Offer.
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds no shares in Neometals.
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