Ann: Hazer Completes $8.4m Placement & Executes Debt Term Sheet, page-2

woo hoo

PERTH, AUSTRALIA; 12 JUNE 2020: Hazer Group (ASX: HZR) (Hazer or the Company) is pleased to announce that it has received binding commitments from institutional and sophisticated investors to successfully raise gross proceeds of $8.4 million (“Placement”). The Placement closed early due to strong demand and was upsized from an initial $6 million target to $8.4 million, utilising the existing placement capacity. Further bids were received in excess of the final Placement amount.

This financing package, along with the previously announced grant from the Australian Renewable EnergyAgency (ARENA) under the Advancing Renewables Program, will meet the funding requirements for the Company’s Commercial Demonstration Plant (“CDP”), the first fully integrated, operational production facility based on the Hazer Process. The Company anticipates being in a position to make a Final Investment Decision (“FID”) for the project within our planned timeframe of mid-2020.