Ann: Notice of General Meeting/Proxy Form, page-121

AVZ Minerals to bring on major strategic investor with $14.1 equity raising at premium
Positively, the proposed share placement is priced at 4.5 cents, a premium to the last close of 4.3 cents.
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The deal is with Yibin Tianyi, an emerging lithium chemical producer in China

AVZ Minerals Ltd (ASX:AVZ) has executed a subscription agreement that will see Yibin Tianyi Lithium Industry Co., Ltd take a 12% stake in AVZ for $14.1 million.
Yibin Tianyi is an emerging lithium chemical producer in China backed by China’s largest EV battery manufacturer CATL and Suzhou TA&A Ultra Clean Technolgy Co Ltd (SHE:300390).
Significantly, following the placement, both parties will negotiate in good faith to agree and execute a binding offtake agreement for the products from the Manono Lithium and Tin Project.
AVZ will require shareholder approval to issue the $14.1 million shares, Yibin will also require approvals including Chinese overseas direct investment (ODI) approvals and FIRB approval.
Investment supports quality of Manono Project

AVZ’s managing director Nigel Ferguson said: “We are excited to welcome Yibin Tianyi as a new, strategic investor in AVZ, especially given the backing they have from CATL – China’s largest EV battery manufacturer.
“Their intention to become one of the largest global lithium chemical producers certainly complements our vision of developing the largest hard rock lithium deposit in the world.
“Yibin Tianyi’s intention to invest in AVZ and enter into a binding offtake arrangement underpins the tier 1 quality of our Manono Project.
“The funds to be raised from this placement will enable AVZ to complete the acquisition of an additional 5% project interest from Dathomir Mining SARL, increasing AVZ’s overall interest in the Manono Project to 65%. The placement will also allow early development works to be undertaken at the Manono Project while the DFS is being completed.”
Yibin Tianyi is building a lithium chemical plant

Yibin will require feed for its lithium chemical plant it is building.
Phase I is underway and expected to be completed in the June quarter 202 with the phase II expansion planned for completion in 2023-24.

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