Altamin Limited (ASX: AZI) (Altamim or the Company) is pleased to advise that it has completed the placement of 40,120,000 fully paid ordinary shares at $0.025 per share (representing a portion of the Shortfall Shares under the Company's Entitlement Offer announced on 22 September 2025, see announcement dated 17 October 2025 for details).
The gross proceeds of $1.003 million includes the $753,000 of firm commitments announced by the Company on 9 December 2025, as well as $250,000 of new commitments. Participants in the shortfall placement include sophisticated and professional UK and Australian investors, including former institutional fund managers, existing top 10 Altamin shareholders and an institutional micro fund. A combined total of approximately $5,390,797 (before costs) of funding has now been secured under the Entitlement Offer (including the shortfall placed to date), with proceeds to be applied towards:
Project development and related activities at the Lazio Project. Permitting related activities at the Gorno Project and to maintain the mine in good standing while the project is in a process to seek a joint venture (JV) partner or buyer.1 Working capital, general corporate expenses and expenses of the offer. The combined funding, together with the grant-funding support available from the Company's participation under the Mission Innovation 2.0 BRAIN project2 , provides Altamin with a strong financial platform to pursue its strategy. Altamin retains the right to place the remaining shortfall securities of up to 42,894,441 shares until 15 January 2026
Contact:
Geraint Harris
CEO & Director
Tel: +61 8 9321 5000
Email: info@altamin.com.au
Stephen Hills
Finance Director
Tel: +61 8 9321 5000
Email: info@altamin.com.au
Erik Bergseng
CFA
Investor Relations
Tel: +61 2 8350 0882
Email: ebergseng@nrinvestor.com.au
Forward Looking Statements
This announcement may contain certain forward-looking statements including forecasts and estimates which may not have been based solely on historical facts, but rather may be based on the Company's current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties, contingencies, assumptions and other factors, many of which are outside the control of the Company all which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Forward-looking statements are inherently uncertain and may therefore differ materially from results ultimately achieved. The Company does not make any representations and provides no warranties concerning the accuracy of any forward looking statements or likelihood of achievement or reasonableness of any forward looking statements. Past performance is not necessarily a guide to future performance. The Company does not undertake any obligation to release publicly any revisions to any forward-looking statement to reflect events or circumstances after the date of this announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
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