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Asiamet Resources Limited To Raise Around £10 Million Via Fundraising

Asiamet Resources Limited To Raise Around £10 Million Via Fundraising

Asiamet Resources Limited To Raise Around £10 Million Via Fundraising

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Asiamet Resources Limited, a budding producer of copper keen on exploring and developing its portfolio of copper, copper gold, and polymetallic deposits in Indonesian islands, announced that it will raise up to £10m through a conditional fundraising for completing the BKM Value Engineering programme and attaining other objectives.

The conditional fundraising consists of a placing of up to 440,909,090 new common shares of par value US$0.01 each in the Company at a price of 2.2 pence per Placing Share and the break-up is as follows:

-Placing of 395,454,545 Placing Shares at the Issue Price to raise up to £8.7 million.

-Placing of an additional 45,454,545 Placing Shares at the Issue Price to raise up to £1.0 million.

-Subscription of 16,529,658 new common shares of par value US$0.01 each in the Company at a price of 2.2 pence per Subscription Share.

Below are some of the major goals that Asiamet will try to pursue through the net proceeds from the Placing and Subscription:

-Complete a second phase value engineering programme for the proposed 25ktpa BKM copper project located in Central Kalimantan.

-Finalise the key Pinjam Pakai permit with the forestry department and secure supplementary permits for construction and commencement of operations.

-Drill test a number of high probability copper targets in close proximity to the BKM copper development project, which have the potential to add further resources and mine life to the BKM project.

-Continue community engagement and development work on the Beutong IUP host to Asiamet’s large tonnage porphyry copper-gold deposit.

The Company has appointed Optiva Securities Limited as the sole bookrunner.

The Issue Price of 2.2 pence per Placing Share and per Subscription Share represents an 8.3% discount
on the closing share price on 24 February 2021.

Certain Directors have expressed their willingness to participate in the Placing. Tony Manini, Director
and Executive Chairman of the Company and Dominic Heaton & Peter Pollard, Non-Executive Directors
of the Company, have agreed to subscribe for 5,620,567 Subscription Shares at the Issue Price.

Below are excerpts from Tony Manini’s statement on this latest development:

“The overwhelmingly strong response from institutional investors coupled with large retail demand through the accelerated bookbuild sees this capital raising heavily oversubscribed and strongly positions the Company to deliver on its key objectives for 2021and beyond.”

“Asiamet has been progressively developing its portfolio of high quality copper projects over the past
few years and is now very well positioned to take advantage of a highly favourable macroenvironment
for copper and substantially higher copper prices going forward.”

Clear Capital Markets assisted the company’s corporate broker in this fundraise. If you are interested in
raising funds or taking part in future company fundraisings, please contact us.

Small Cap Investing is high risk. The value of investments can fall as well as rise. Capital is invested at
risk.

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