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Exciting News from C29 Metals Limited

C29 Metals Limited is thrilled to announce that it has successfully secured commitments from seasoned investors to raise an impressive $2,450,000 (before expenses). This achievement was made possible through a placement of 34,507,042 fully paid ordinary shares in the company at an issue price of $0.071 each. The overwhelming demand for the Placement shares far exceeded the initial offering, solidifying the confidence in the Company and its projects.

Key Highlights:

• Firm commitments have been received to raise $2.45m under the current Listing Rule 7.1 and 7.1(a) placement capacity.
• Official notification has been received, confirming that all regulatory requirements for the issue of drill permits have been met.
• A total of 20,952,179 Placement Shares will be issued under Listing Rule 7.1, with an additional 13,554,863 Placement Shares issued under Listing Rule 7.1A.
• The issue price of $0.071 per share represents a 0% discount to the last trading price and a 3% premium to the 15-day volume weighted average price.
• The funds raised through the Placement will be allocated towards exploration activities at the Ulytau Uranium Project and for working capital.

In addition to these milestones, C29 Metals Limited has engaged ARQ Capital Pty Ltd as the Lead Manager to oversee the Placement. The Lead Manager, or its nominees, will receive a capital raising fee of 6% on the amount raised, a management fee of $15,000, and 2,500,000 options with an exercise price of $0.115 expiring in December 2025 (Broker Options). Furthermore, the Company has approved the issue of 4,000,000 Director Incentive Options to be distributed among key directors after obtaining shareholder approval at the upcoming AGM.

In conclusion, C29 Metals Limited is poised for exciting developments with the successful completion of the Placement and the diligent allocation of funds towards its projects. Stay tuned for more updates on the Company’s progress and growth in the near future.

Remember, this article is based on information from C29 Metals Limited and should not be considered financial advice. It is crucial to conduct thorough research before making any investment decisions. Refer to the full disclaimer for more information.