Ann: Additional TMT Shareholders Support Proposed Merger with AVL, page-40

Many also had faith in the management here who will mostly be exiting when this merger has done.
Surely trust in management is a key reason for investing in ANY company?
Now many sound furious at the management, resentful of key investors, and of the opinion AVL is the same company it was a year back.

There are clearly financial reasons behind the merger and maybe RCF is actually wanting a quick pump before exiting the whole vanadium sector at break even?
Or maybe what is good for it is also good for other investors on both sides of the fence?

Cheers


pro Active Investors story today:

[go to website ]

Australian Vanadium secures A$15.7 million in institutional placement to advance merger with Technology Metals Australia

Last updated: 11:10 26 Sep 2023, First published: 10:53 26 Sep 2023



Australian Vanadium Ltd (ASX:AVL, OTCQB:ATVVF) has completed a well-supported placement, raising A$15.7 million with strong backing from Resource Capital Fund VII LP (RCF) and other institutional investors.
The funding comes on the heels of AVL's proposed $217 million merger with Technology Metals Australia Ltd (ASX:TMT), which would see AVL acquire 100% of the TMT shares on issue, signalling robust investor confidence in the vanadium sector.
There will be approximately 603 million new shares issued in the placement at a fixed price of A$0.026 per share.
Proceeds will be applied to support initiatives involved with the integration strategy associated with the announced merger, fund ongoing project and corporate initiatives, general working capital and offer costs.
The merged entity is set to become the leading Australian vanadium developer with a world-class asset of scale in Western Australia, a tier-one mining jurisdiction.

Growing interest in vanadium

AVL CEO Graham Arvidson said: “We are pleased with the strong support shown by RCF and other investors for the placement.
“Following the announced merger with TMT earlier this week, receiving this support is a positive endorsement of AVL’s strategy and team but also highlights the growing investor interest in the vanadium thematic which continues to benefit from the clean energy transition and ongoing electrification of energy supplies requiring storage solutions.
“The placement ensures that the combined group will be well-funded to progress its integration strategy between AVL and TMT as well as the go-forward development strategy, and we are excited by the future opportunities”.
https://x.com/TechnologyMetal/status/1706133702755959040?s=20
https://x.com/TechnologyMetal/status/1706133702755959040?s=20
Trading halt lifted

With the trading halt lifted, the settlement of the placement is expected on Friday, September 29, 2023.

The new shares will rank equally with existing AVL shares on issue.
Macquarie Capital (Australia) Limited and Canaccord Genuity (TSX:CF, LSE:CF) (Australia) Ltd are acting as joint lead managers and joint bookrunners to the placement.