Leeuwin Metals Limited

Leeuwin Metals Limited (ASX:LM1)

Offer Price

A$0.0980

per share

Offer Size

A$2,500,000

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Placement

Leeuwin Metals Limited (ASX:LM1)

LM1

Lead Manager

Offer Price

A$0.0980

per share

Offer Size

A$2,500,000

Placement

Leeuwin Metals Limited

Offer Details

Issue Price (Per Share)

A$0.0980

Offer Size

A$2,500,000

Shares Available

25,510,204

The Company is seeking to raise approximately A$2.5m @ $0.098 per share via a placement comprising:

  • Tranche 1 to raise approximately A$1.6 million through the issuance of 15.8 million New Shares under LM1’s existing placement capacity pursuant to Listing Rule 7.1 (“Tranche 1”)
  • Tranche 2 to raise approximately A$0.9 million through the issuance of 9.7 million New Shares subject to shareholder approval at an Extraordinary General Meeting expected to be held as soon as practicable following completion of the Marda acquisition (“Tranche 2”)

The Company reserves the right to accept oversubscriptions of up to A$0.75 million at its absolute discretion, to be allocated exclusively in Tranche 2, subject to shareholder approval at the forthcoming EGM.   New securities issued under the Offer reflects a:

  • 18.3% discount to the last traded price on 22 January 2025 of A$0.120
  • 16.1% discount to 10-day VWAP of $0.118

Use of Funds

Funds raised under the offer will be used towards:

  • Marda Exploration
  • Pilbara Iron Exploration
  • Canadian Asset Exploration
  • Corporate and Working Capital
  • Offer Costs

More details can be found in the term sheet.

Company Overview

Leeuwin Metals Ltd (ASX: LM1) (Leeuwin or LM1) is an active, ASX-listed exploration company focused on discovering and developing high-value mineral resources across a diversified portfolio. Leeuwin has agreed to acquire the Marda Gold Project (Marda) from Ramelius Resources, providing the Company with a new flagship asset in the highly prospective Western Australian goldfields. Leeuwin also holds prospective lithium and nickel assets in Canada and Australia.

Indicative Timetable

All times are AEDT unless otherwise stated and are subject to change at the discretion of the Lead Manager and the Company.

Trading halt

Thursday, 23 January 2025

Book Closure

4:00pm Friday, 24 January 2025

Trading halt lifted and LM1 shares recommence trading on ASX

Tuesday, 28 January 2025

Settlement of Placement Shares (Tranche 1)

Thursday, 30 January 2025

Allotment of Placement Shares (Tranche 1)

Friday, 31 January 2025

Anticipated date of EGM to approve Tranche 2 of the Placement and issuance of Shares

Mid-late February 2025

Settlement of Placement Shares (Tranche 2)

Mid-late February 2025

Allotment of Placement Shares (Tranche 2)

Mid-late February 2025

Documents & Downloads

Disclaimer

This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Leeuwin Metals Limited. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.

Disclosure of Interest: Liquidity receives commission from dealing in securities and its introducers of business may directly share in this commission. Liquidity and its associates may hold shares in Leeuwin Metals Limited.

Leeuwin Metals Limited

Placement

Leeuwin Metals Limited (ASX:LM1)

LM1

Offer Price

A$0.0980

per share

Offer Size

A$2,500,000

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