GROUP 6 METALS LIMITED (G6M)

The securities of Group 6 Metals Limited were suspended from quotation at G6M's request on 27 September 2024, pending the release of an announcement regarding a potential transaction in connection with the recapitalisation. Since its securities were suspended, G6M has not lodged its Annual Accounts. As a consequence, G6M's securities will continue to be suspended from quotation by ASX under Listing Rule 17.5, until such time as G6M lodges its Annual Accounts and that it is otherwise appropriate for G6M's securities to be reinstated to quotation.

The securities of Group 6 Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of G6M, pending the release of an announcement regarding a potential transaction in connection with the recapitalisation.

The suspension of trading in the securities of Group 6 Metals Limited will be lifted immediately following the release by G6M of an announcement regarding a material capital raising.

The company releases a notice of proposed issue of securities.

The Company has received commitments for c.$27 million and $3 million in underwriting for a Share Purchase Plan to raise a minimum of $30 million, providing the runway to progress operations towards positive cash flow. Project commissioning is significantly advanced, with first Tungsten concentrate production imminent, followed by a period of project ramp-up to steady state operations at attractive expected operating margins over the initial 13-year mine life. Funds were raised at $0.14c per share, representing a 15.2% discount to the last traded price on 28 April 2023 and a 16.6% discount to the 5-day VWAP. The Placement received strong support from major shareholders, with the Company's top 4 shareholders committing to subscribe for 69% of the total raising. The Company is also embarking on a partially underwritten Share Purchase Plan to allow existing eligible shareholders to participate on the same terms to raise up to an additional A$5 million, subject to shareholder approval. Eligible shareholders can subscribe for up to A$50,000 of new shares in the SPP. Proceeds from the Placement and SPP will be used to progress construction, commissioning and ramp-up towards steady state production at the Dolphin Tungsten Mine. Additionally, the funds will provide the Company with balance sheet flexibility to expedite feasibility studies on Bold Head mine development, downstream processing, and integration of renewable energy. Participants in the Placement and SPP will receive 2 free options for every 3 New Shares subscribed for, with an exercise price of A$0.21 and an expiration date of 30 June 2025. MD and CEO Keith McKnight, Chairman Johann Jacobs and Executive Director Chris Ellis to participate in the Placement, subject to shareholder approval.

The securities of Group 6 Metals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of G6M, pending the release of an announcement regarding a material capital raise.

name changed from King Island Scheelite Limited