INFINITY METALS LIMITED — Capital/Financing Update 2019

Jun 26, 2019

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ACN 147 413 956

ASX: INF ANNOUNCEMENT

27 June 2019

Infinity completes $1.5m Placement to advance the San José Lithium Project

HIGHLIGHTS

• Infinity to raise approximately $1.5 million before costs via a placement to international and Australian sophisticated investors.

• Placement was oversubscribed with strong support from new and existing investors.

• Patersons Securities Limited acted as Lead Manager for the placement at a price of $0.07 per share, representing a 9% discount to the closing price prior to Placement.

• Funds will be used to progress works at the San José Lithium Project and to complete the Pre-Feasibility Study into the production of battery grade lithium hydroxide.

Infinity Lithium Corporation Limited (ASX:INF, ‘Infinity’, or ‘the Company’) is pleased to announce that it has received commitments to raise approximately $1.5 million before costs via the issue of approximately 21.43 million shares at an issue price of $0.07 per share (“Placement”). The Placement attracted strong interest from new and existing domestic and international investors.

The funds raised under the Placement will be used primarily to complete the Pre-Feasibility Study (‘PFS’) for the San José Lithium Project (expected to be delivered at the end of July 2019), additional engineering and battery grade product production as part of the Definitive Feasibility Study and general working capital. San José is a highly advanced lithium-tin deposit with near term production potential, and is located in the promining region of Extremadura, Spain.

Infinity’s Chairman Kevin Tomlinson (London based Chairman) stated, “It is pleasing to see commitment from management and the introduction of key European shareholders through this placement. I believe this reflects the increasing transition to European based management and financial support as the San Jose Lithium Project develops. The Placement brings the benefit of funding the Company for the next phase of its growth and raising the profile of the Company both domestically and internationally.”

Placement Details

Patersons Securities Limited acted as Lead Managers to the Placement. The shares issued under the Placement will rank pari passu with existing fully paid ordinary shares in the Company. Except for Director Participation (see below), the shares issued under the Placement will fall within the Company’s 15% placement capacity under ASX LR 7.1. A total of 21,428,572 securities are expected to be issued under the Placement.

Infinity Lithium Corporation Limited

www.infinitylithium.com

ASX:INF

ACN 147 413 956

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A total of 20,285,714 shares pursuant to Listing Rule 7.1 and 1,142,858 shares pursuant to shareholder approval. Settlement is scheduled to occur on 3 July 2019 (except for Director participation).

Director Participation

The Board of Directors of Infinity intend to participate in the Placement for approximately $80,000. In respect of any allocation to Directors, the Company will seek shareholder approval at a general meeting of the Company scheduled to take place in August 2019.

For further inquiries please contact;

Ryan Parkin Nick Morrison CEO, Managing Director Namcomm Consulting - Principal T: +61 (0) 429 228 857 T: +61 (0) 424 823 100 E: rparkin@infinitylithium.com E: nick@namcomm.com.au

Use of Funds

Funds raised pursuant to the Placement will be used as follows:

• To complete the PFS for San José – expected July 2019;

• For advancement of Mining License applications, permitting, environmental, social and regulatory aspects of San José;

• For Independent engineering and specialist consultants that will be engaged to manage key Study work streams as part of the Definitive Feasibility Study;

• For work associated with entering into strategic investment and/or supply and offtake agreements in respect of future lithium production as the Company advances towards the delivery of the San José lithium hydroxide Feasibility Study; and

• For working capital purposes.

Infinity Lithium Corporation Limited

www.infinitylithium.com

ASX:INF