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ELEMENT 25 LIMITED — Capital/Financing Update 2024
Jul 2, 2024
64810_rns_2024-07-02_1b4ba1f1-5ed9-474e-8884-3d741e39cfa1.pdf
Capital/Financing Update
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ANNOUNCEMENT | 3 July 2024 | ASX: E25
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SHARE PURCHASE PLAN COMPLETION
Element 25 Limited ( Element 25 or Company ) ( ASX: E25; OTCQX: ELMTF ) confirms the completion of its Share Purchase Plan ( SPP ) following the closing of applications on Wednesday, 26 June 2024.
Proceeds of the SPP will be used to enable the Company to progress its current prime projects at the Butcherbird mine site (located in the southern Pilbara region of Western Australia), as part of the Butcherbird Stage 2 Expansion Project, as well as continuing to support the high purity manganese sulphate monohydrate ( HPMSM ) project to be built in Louisiana, USA in partnership with General Motors LLC and Stellantis NV[1] .
All eligible Directors of Element 25 participated in the SPP.The Company received 84 eligible applications totalling $643,145. New fully paid ordinary shares ( New Shares ) under the SPP will be issued at $0.27 cents per share.
A total of 2,382,066 New Shares are scheduled to be issued under the SPP on Wednesday, 3 July 2024. Trading of those New Shares is expected to commence on Thursday, 4 July 2024 with holding statements anticipated to be dispatched on Friday, 5 July 2024. New Shares issued under the SPP will rank equally with existing Element 25 fully paid ordinary shares from their date of issue.
FURTHER INFORMATION
For enquiries related to the SPP, shareholders can contact Element 25’s share registry, Automic Group on 1300 288 664 (callers within Australia) or +61 2 9698 5414 (callers outside Australia).
ABOUT ELEMENT 25
Element 25 is an ASX-listed company (ASX: E25 ) that operates the world-class 100%-owned Butcherbird Manganese Project in Western Australia and is currently undertaking activities to expand production to approximately 1.1Mtpa[2] of medium-grade high silica manganese ore for use in traditional and new energy markets.
Element 25 is also commercialising innovative proprietary technology to produce battery-grade high-purity manganese sulphate monohydrate ( HPMSM ) for use in Electric Vehicle ( EV ) battery manufacturing. The Company is planning to build its first HPMSM refinery in Louisiana USA to produce raw materials for the US EV market, in partnership with General Motors LLC
1 Reference: Company ASX Released dated 27 May 2024. 2 Reference: ASX Company Release dated 23 January 2024
Element 25 Limited
ABN: 46 119 711 929 T: +61 8 6375 2525 E: [email protected] W: element25.com.au
( GM ) and Stellantis N.V. ( Stellantis ). Element 25 aims to become an industry leading, world class, low-carbon battery materials manufacturer.
Company information, ASX announcements, investor presentations, corporate videos, and other investor material in the
Company’s projects can be viewed at: www.element25.com.au.
This announcement is authorised for market release by Element 25 Limited’s Board of Directors.
| Justin Brown | Media Inquiries: | ||
|---|---|---|---|
| Managing Director | Nathan Ryan | ||
| Email: [email protected] | Email: [email protected] | ||
| Phone: +61 (8) 6375 2525 | Phone: +61 (0) 420 582 887 |
Competent Persons Statement
The company confirms that in the case of estimates of Mineral Resource or Ore Reserves, all material assumptions and technical parameters underpinning the estimates in the market announcement dated 29 September 2023 continue to apply and have not materially changed. The company confirms that the form and context in which the competent person’s findings are presented has not been materially modified from the original market announcement.
Investor Relations Disclaimer
Certain Statements included in this announcement are forward-looking statements concerning Element 25 Limited and its subsidiaries (E25) and its operations, economic performance, financial condition, plans and expectations. Without limiting the foregoing, statements including the words “believes”, “anticipates”, “plans”, “expects”, “could”, “potential”, “should” and similar expressions are also forward-looking statements.
All forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, business integration risks; uncertainty of production, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets, uncertainty in the measurement of mineral reserves and resource estimates, E25’s ability to attract and retain qualified personnel and management, potential labour unrest, reclamation and closure requirements for mineral properties; unpredictable risks and hazards related to the development and operation of a mine or mineral or mineral deposit or mineral processing facility that are beyond E25’s control, the availability of capital to fund all of the Company’s projects and other risks and uncertainties.
You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. E25 cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management’s assumptions may prove to be incorrect. E25’s forwardlooking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and E25 does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.
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