Ann: OVERSUBSCRIBED SHARE PLACEMENT TO RAISE $3,000,000, page-4

OVERSUBSCRIBED SHARE PLACEMENT TO RAISE
$3,000,000
Technology Metals Australia Limited (ASX:
TMT
) (“
Technology Metals
” or the
“
Company
”)
is pleased to announce a placement of 10,000,000 fully paid
ordinary shares (Placement) at a price of $0.30 per share, with a one for
three free attaching Option (Placement Options), to raise $3,000,000
before costs. The Placement was oversubscribed and the Company is
pleased to welcome strategic high net worth investors and domestic
institutions on to the register. Monies raised will be used to advance the
company project and for working capital purposes.
This Placement will be
conducted under the Company’s current Placement capacity pursuant
to ASX Listing Rule 7.1 and 7.1A as follows:
1.
The Placement Shares are intended to be issued under the Company’s
current capacity pursuant to ASX Listing Rule 7.1 (6,787,500 Shares) and
7.1A (3,212,500 Shares). The Shares to be issued under 7.1A are conditional
on the minimum pricing condition under ASX Listing Rule 7.1A.3 being
satisfied. Where this does not occur, the issue of those Shares will be
subject to Shareholder approval at the Company’s forthcoming General
Meeting of Shareholders (GM);
2.
The issue of 3,333,333 one for three free attaching Placement Options
exercisable at $0.40 expiring two years from date of issue. The Options are
subject to Shareholder approval which will be sought at the Company’s
forthcoming GM; and
3.
In addition to the Placement, the Company will seek approval at the
Company’s forthcoming GM for a Further Issue (Further Issue) of up to
6,666,667 options on the same terms as the one for three free attaching
Placement Options to be issued under the Placement. These options will
be issued to the Company’s technical consultants, corporate advisors
and key management personnel.
The Company also advises that PAC Partners Pty Ltd (ACN 165 738 438)
(PAC) and Patersons Securities Limited AFSL No. 239 052 (Patersons) have
been engaged to co-manage the Placement. Fees in respect of the
Placement will be 6% on monies raised ($180,000 exclusive of GST