Calidus Secures $20M to Fund Growth Projects

Calidus Secures $20M to Fund Growth ProjectsProceeds will enable the acceleration of lithium and gold exploration drilling; Warrawoona ramp-up on track with nameplate capacity set to be reached this quarter • •• •••HIGHLIGHTSCalidus has received firm commitments for $20M following an institutional placementPlacement at $0.67, representing a 12.4% discount to the last close on 9 August 2022 and a 6.7% discount to the Company’s 10-day VWAPStrong demand from existing and new shareholders, domestically and offshoreAlkane Resources Limited (ASX:ALK), the Company’s largest shareholder, has subscribed for $3.0M providing a strong endorsement of Calidus’ strategyThe proceeds will be used to fund growth projects including Lithium exploration at the Pirra Lithium Joint Venture and demerger costso Expanding regional drill program on gold targets within Calidus’ highly prospective tenure in the Pilbarao Early works for Blue Spec Mine and expansiono Expansion of Warrawoona MillOperational ramp-up at Warrawoona continues with nameplate productionexpected during this quarter.