Ann: Firefinch Successfully Completes A$100m Placement, page-5

Overseas... long only! Very nice!

Firefinch Limited (ASX: FFX) (Firefinch or the Company) is pleased to announce it has received firm commitments from new and existing investors to raise A$100 million (before costs) through a placement (Placement) of fully paid ordinary shares (New Shares). The Placement attracted strong support from existing shareholders and new investors, and will result in numerous high-quality, long-only offshore and domestic institutions joining the Firefinch register.

The Placement represents a proactive corporate initiative to provide funding certainty for the Company’s growth plans at Morila and Goulamina, and remove reliance on debt funding. Firefinch now has a significant capital base from which to accelerate development of its two world class businesses.

Proceeds from the Placement will be used to fast track the production growth at the Morila Gold Mine (Morila) to more than 100,000 ounces of gold in 2022 and ultimately over 200,000 ounces of gold in 20242, accelerate exploration – both regionally and for resource and reserve development, facilitate the proposed demerger of the Goulamina Lithium Project (Goulamina) into a separate ASX-listed company and maintain Firefinch's pro-rata interest in Leo Lithium post the demerger.

Firefinch Managing Director, Michael Anderson, commented:
“The overwhelming demand from both offshore and domestic institutions for this equity raising is a strong endorsement of our corporate strategy and testament to the underlying quality of Firefinch’s Morila and Goulamina Projects. We thank our existing shareholders for their ongoing support and welcome many new high-quality institutions to our register.