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Neometals Limited (ASX:NMT)

ALERT: Price-sensitive ASX Announcement for NMT
Current share price for NMT : $0.021 -0.051 (-70.83%)+
Announcement
Release
19 Aug 2024 8:55AM
Price at Release
$0.072
Full Release
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Summary
Neometals Limited announced a successful US$3 million placement led by long-term shareholder Mr. William Robert Richmond, with proceeds aimed at advancing the company's flagship Lithium-ion Battery Recycling business through its industrial validation stage. The placement consists of 66,666,666 new shares at US$0.045 each, expected to complete on 19 August 2024, and is set to bring the company's net cash balance to A$9.3 million. The strengthened financial position will support the delivery of Mercedes-Benz’s Pilot Plant via the Primobius joint venture.
Key Points
  • US$3M Placement with Mr. William Robert Richmond at US$0.045 per share.
  • Placement proceeds to support Lithium-ion Battery (LiB) Recycling business.
  • Anticipated completion of Placement on 19 August 2024.
  • Net cash balance expected to be A$9.3M post-placement.
  • Placement shares will rank equally with existing shares.
  • Strengthened capital position to focus on industrial validation of recycling technology.
  • Mercedes-Benz’s Pilot Plant delivery by Primobius joint venture.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.