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TAWANA RESOURCES NL - Underwritten Placement to advance Bald Hill and lifting of trading halt

Release Date: 09/04/2018 08:00:00      Code(s): TAW       PDF(s):  
Underwritten Placement to advance Bald Hill and lifting of trading halt

 Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
ISIN: AU000000TAW7
Share code on the Australian Stock Exchange Limited: TAW
ISIN: AU000000TAW7
(“the Company” or “Tawana”)

Underwritten Placement to advance Bald Hill and lifting of trading halt

Tawana Resources NL (“Tawana” or the “Company”) is pleased to announce that it has received
commitments to raise gross proceeds of A$20 million via the issue of 48,780,488 new fully paid
ordinary shares (“Shares”) in the Company at an issue price of A$0.41 per Share (“Underwritten
Placement”). The Underwritten Placement was strongly supported by domestic and offshore
sophisticated and institutional investors.

The Underwritten Placement follows Tawana’s announcement of a merger of equals with SGX-listed
Alliance Mineral Assets Limited (“Alliance”) to create a midtier lithium producer to be listed on ASX
and SGX (refer ASX announcement dated 5 April 2018).

Tawana also intends to place up to a further A$5 million in gross proceeds to sophisticated and
institutional investors (“Conditional Placement”). The Conditional Placement is non-underwritten and
conditional on completion of the Alliance Conditional Placement (as defined in Note 1).1

The Underwritten Placement issue price of A$0.41 per share represents a 9.9% discount to Tawana’s
last traded price of $0.455 on 4 April 2018.

The funds raised under the Underwritten Placement and the Conditional Placement will primarily be
used for additional working capital, to enable continued commissioning of the Bald Hill Lithium and
Tantalum Mine in Western Australia (“Bald Hill Mine”), resource drilling, capital expenditure including
feasibility studies on expansion projects, and other initiatives at the Bald Hill Mine. Tawana’s
Managing Director, Mr Mark Calderwood said: “We are extremely pleased with the strong support for
this capital raising, particularly from some existing domestic institutional shareholders and new
Australian and international institutions who have joined the register. The additional capital gives us
the flexibility to ramp up operations as we rapidly progress towards the full productive potential of the

Canaccord Genuity (Australia) Limited (“Canaccord’) acted as Underwriter, Lead Manager and
Bookrunner to the Underwritten Placement and is acting as Lead Manager and Bookrunner to the
Conditional Placement. A fee of 5% of the total underwritten amount raised will be paid to Canaccord.

The Underwritten Placement is expected to settle on 16 April 2018 and the new Shares will be allotted
on 17 April 2018. Shares under the Underwritten Placement and the Conditional Placement will be
issued under Tawana’s existing ASX Listing Rule 7.1 placement capacity. For and on behalf of the
Board, Mark Calderwood Managing Director

09 April 2018

PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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