HASTINGS TECHNOLOGY METALS LTD — Capital/Financing Update 2014

Jun 23, 2014

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ASX Announcement 24 June 2013

Rights Issue Closes with Significant Shareholder Support – Total Raising $2.81 million

Highlights

• Shareholders subscribed for 86.3% of shares offered in the rights issue including Shortfall shares

• Shareholders subscribed for 54.2% of rights issue being 40,112,587 shares amounting to $1,524,278

• Shareholders subscribed for Shortfall of 23,851,968 shares amounting to $906,375

• Underwriter subscribed for remaining 10,115,323 shares for balance of $384,382

Hastings Rare Metals Limited (ASX: HAS) is pleased to announce that the recent fully underwritten non-renounceable rights issue has closed with 86.3% of the rights shares being subscribed for by shareholders, with the balance being taken up by the underwriter.

Charles Lew, Non-executive Chairman said, “ this is an encouraging result and we take this opportunity to thank our shareholders for their ongoing support. We look forward to reporting on the progress and results of the Hastings’ and Yangibana projects in the year ahead”.

Accordingly the Company will issue to shareholders 74,079,878 ordinary shares to raise $2,815,035 (before costs).

The securities above are to be issued on 25 June 2014.

A summary of the results of the rights issue and shares currently on issue is set out in the table below:

	Number of Shares	Subscription Funds ($)
Application for entitlement shares	40,112,587	1,524,278
Applications for additional shares under shortfall facility	23,851,968	906,375
Shares taken up by underwriter	10,115,323	384,382
Total applications	74,079,878	2,815,035

Address Level 9, 50 Margaret St, Sydney NSW 2000 Postal Address PO Box R933 Royal Exchange NSW 1225 Telephone 02 9078 7674 Fax 02 9078 7661 Email admin@hastingsraremetals.com Website www.hastingsraremetals.com ABN 43 122 911 399

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Event	Number of Shares
Shares Currentlyon Issue	185,199,694
Entitlement Shares taken upunder the rights issue	40,286,587
Shortfall Shares applied for byshareholders	23,677,968
Shares taken upbythe underwriter	10,115,323
Rights Issue Shares	74,079,878
Total shares after rights issue	259,279,572
Shares now held by major shareholder – Charles Lew	60,511,060(23.33%)

Guy Robertson Company Secretary

Address Level 9, 50 Margaret St, Sydney NSW 2000 Postal Address PO Box R933 Royal Exchange NSW 1225 Telephone 02 9078 7674 Fax 02 9078 7661 Email admin@hastingsraremetals.com Website www.hastingsraremetals.com ABN 43 122 911 399