Highlights:
Pursuant to the terms of the Placement, subscribers were offered 1 free-attaching unlisted option for every 2 Placement Shares subscribed for, with an exercise price of A$0.042 per option and expiry date of 31 December 2027 (Placement Options).
Under Tranche 1 of the Placement, the Company confirms that it has today issued:
Tranche 2 of the Placement, comprising 297,488,855 Placement Shares and 148,744,427 Placement Options will be issued subject to shareholder approval which will be sought at a meeting of the Company’s shareholders in January 2025. Shareholder approval is also being sought for the issue of 20,000,000 options on the same terms as the Placement Options to the cornerstone investor of the Placement.
Proceeds of the Placement will be used as follows:
Canaccord Genuity acted as Lead Manager to the Placement.
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