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Highlights

  • Future Metals to raise up to AU$2.64 million (~£1.28m) via 1-for-3 non-renounceable entitlement offer.

  • Offer priced at AU$0.011 per share, consistent with prior placement pricing.

  • CPS Capital Group partially underwrites the offer for up to AU$1.98 million.

     

Future Metals Ltd has announced the launch of a 1-for-3 non-renounceable pro-rata entitlement offer aimed at raising approximately AU$2.64 million, following a successful placemnet of AU$1.58 million. 

The Entitlement Offer will allow eligible shareholders to subscribe for new fully paid ordinary shares at a price of AU$0.011 per share (equivalent to 0.53 pence per Depository Interest). This issue price matches the recently completed placement and represents a modest 2.8% discount to the 15-day volume-weighted average price of AU$0.0113, calculated as of 6 May 2025.

In total, the company is offering up to approximately 239.6 million new shares. The offer is partially underwritten by CPS Capital Group Pty Ltd, up to an amount of AU$1,975,602, providing a level of funding certainty for the capital raise.

Eligible shareholders as of 5.00pm AWST (10.00am BST) on Thursday, 12 May 2025, who are registered in Australia, New Zealand, the United Kingdom, Bermuda, Malaysia or Singapore, and meet the relevant legal requirements, will be invited to participate in the offer. Investors in the United States, or acting for the benefit of U.S. persons, are excluded from the offer.

Each new share issued will rank equally with existing shares on issue, ensuring that participating shareholders maintain parity in rights and entitlements moving forward.