Peako Limited - Results of Entitlement Offer

About this update from Peako Ltd

Peako Limited (ASX: PKO) ( Peako or the Company) is pleased to announce that the renounceable rights issue ('Rights Issue') announced on 17 July 2024 has closed raising $469,212 (before costs). The Company will issue 157,034,171 new fully paid ordinary shares ('Shares') and 78,517,093 new options exercisable at $0.0075 , with expiry date of 28 February 2027 ('Options'). The Rights Issue was fully underwritten and the Company will work with the Underwriter to finalise the issue of shortfall securities over the coming days. The proceeds will be used for working capital for Peako to undertake exploration on existing projects and to review new project opportunities. The Company's directors took up entitlements amounting to $203,584 , demonstrating their commitment to and confidence in the company's projects and its future. The new securities are expected to be issued on Friday 9 August 2024 , in accordance with the timetable in the prospectus. The remaining Shortfall securities following the issue of these new shares and options is 194,355,975 New Shares and 97,177,987 New Options which will be issued in accordance with the Underwriting Agreement. Commenting on the close of the Entitlement Offer, Peako's Executive director Rae Clark said 'The Board thanks our shareholders for their support of the rights issue.' Contact: Tel: +61 3 8610 4723 Email: [email protected] (C) 2024 Electronic News Publishing, source ENP Newswire

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