ADN.ASX: Share Purchase Plan to raise approximately $3 million

Share Purchase Plan to raise approximately $3 million

Stock	Andromeda Metals Ltd (ADN.ASX)
Release Time	12 Aug 2026, 9:47 a.m.
Price Sensitive	Yes

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Andromeda Metals Announces Share Purchase Plan to Raise $3M

Key Points

Share Purchase Plan targets to raise approximately $3 million
Funds will support HPA Project Pre-Feasibility Study
Application cap of $30,000 per eligible shareholder

Full Summary

Andromeda Metals Limited (ASX: ADN) has announced a Share Purchase Plan (SPP) to raise approximately $3 million before costs, offering eligible shareholders a 15% discount on the purchase price of $0.0059 per share. The SPP aims to fund the advancement of the Company's High Purity Alumina (HPA) Project, including the completion of a Pre-Feasibility Study (PFS). Eligible shareholders can apply for up to A$30,000 worth of new shares. The SPP is not expected to materially impact the control of the Company. The terms and conditions of the SPP will be detailed in an Offer Booklet to be released on 17 August 2026.

Guidance

Approximately $3 million to be raised through Share Purchase Plan

Outlook

Completion of HPA Pre-Feasibility Study and further advancement of the HPA Project