Resouro Strategic Metals Inc. Stock Market Press Releases and Company Profile
ASX IPO Offer Closed
ASX IPO Offer Closed

Sydney, June 13, 2024 AEST (ABN Newswire) - Resouro Strategic Metals Inc. (googlechartASX:RAU) (googlechartCVE:RSM) (googlechart8TX:FRA) (googlechartRSGOF:OTCMKTS) is pleased to provide an update in relation to the Company's planned listing on the Australian Securities Exchange("ASX") and announce that the concurrent placement has closed.

The Company lodged a Prospectus with the Australian Securities and Investments Commission (ASIC) on May 1, 2024 to raise AUD$8.0 million (approximately CAD$7.2 million) via the offer of 16,000,000 CHESS Depository Interests ("CDI") over common shares in the capital of the Company at an offer price of AUD$0.50 (approximately CAD$0.45) per CDI (the "Offer").

Resouro is pleased to announce that the Offer closed on June 12, 2024. The Offer was met with overwhelming enthusiasm from investors across the board, including institutional investors, high net-worth individuals, and retail investors. The demand from investors signals a remarkable vote of confidence in the company's vision, strategy, and growth potential.

Chris Eager, CEO, commented;

"Resouro is delighted with the strong support for the Offer and would like to thank existing shareholders for their continuing support, as well as welcoming a number of new investors to the Company's register. We are excited to continue accelerating drilling and feasibility activities at Tiros and thereby build shareholder value for all Resouro shareholders, and we look forward to updating the market in the near term in this regard."

Resouro intends to use the net proceeds raised pursuant to the Offer to increase shareholder value through the identification, exploration, definition and development of its Tiros Rare Earth Elements and Titanium Project, and Novo Mundo Gold Project as well as to meet working capital requirements.

Taylor Collison Limited, an Australian broker, acted as the Lead Manager for the ASX Offer. As compensation for its services, the Lead Manager will receive a capital raising fee of AUD$440,000 (approximately CAD$400,000) which is equal to 5.5% of the aggregate gross proceeds of the Offer and will be issued 1,843,643 stock options in the Company at an exercise price of CAD$0.68, vesting immediately, and expiring three years from the date of issue. The options will be subject to a 24-month escrow period.

The listing of the Company on the ASX remains subject to the Company meeting the ASX's listing criteria and the Company is working through the standard conditions of admission. Subject to the satisfaction of ASX's conditions to admission, the Company is targeting a listing date on the ASX of Friday, 14 June 2024.

Upon successful completion of the listing, the Resouro securities will be tradable on the TSX Venture Exchange (googlechartCVE:RSM), the Frankfurt Stock Exchange (googlechart8TX:FRA), the Over-the-Counter market in the United States (googlechartRSGOF:OTCMKTS) and the Australian Stock Exchange (googlechartASX:RAU), providing investors with increased flexibility and accessibility.


About Resouro Strategic Metals Inc.

Resouro Strategic Metals Inc.Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (OTCMKTS:RSGOF) (FRA:8TX) is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in Brazil, including the rare earth elements and titanium Tiros Project and the Novo Mundo and Santa Angela gold projects.

The Tiros Project, located in northern Minas Gerais, Brazil, is an exploration project focused on rare earth elements and titanium covering an area of approximately 450 km2. The Tiros Project comprises 17 exploration permits, and one exploration permit application held by the Company's Brazilian subsidiary; and 6 exploration permits and one exploration permit application that have been validly assigned to the Company's Brazilian subsidiary and are awaiting ANM approval. The Company holds, via its wholly owned Brazilian subsidiary, a 90% interest in the Tiros Project and the remaining 10% interest in the Tiros Project is held by RBM Consultoria Mineral Eireli (RBM), an unrelated third-party vendor.

The Novo Mundo Project is located in the Alta Floresta Gold Province close to the northern border of the state of Mato Grosso, central Brazil. Within the licensed area is the small town of Novo Mundo, which is 30km west from the larger town of Guaranta do Norte. It comprises three exploration permits. The Company also has another interest in an exploration permit, being the Santa Angela Project, which is not considered material to the Company's operations. Interests in the Novo Mundo Project and Santa Angela Project are held via the Company's wholly owned subsidiary.

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Contact

Chris Eager, CEO
chris.eager@resouro.com
Phone: +44-738-805-7980
For Investor inquiries
Info@Resouro.com


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