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21/08/2019

Australian Vanadium Limited Launches Underwritten Share Purchase Plan

Australian Vanadium Limited (ASX: AVL) (“AVL” or the “Company”) is pleased to announce an underwritten Share Purchase Plan (“SPP”) to raise a minimum of A$3.5 million (before costs) to advance the development of the Australian Vanadium Project and for general working capital.

The SPP will be underwritten to A$3.5 million by Patersons Securities Limited (“Patersons”) which is acting as Lead Manager and Underwriter to the offer. The New Shares (as defined below) will be issued at 1.15 cents per share, equivalent to an 18.8% discount to the volume weighted average price (“VWAP”) over the 5 trading days before the date the SPP is announced. The SPP will be offered to Eligible Shareholders (as defined below) free of brokerage and fees.

Australian Vanadium Limited Launches Underwritten Share Purchase Plan View PDF (292KB)