Hastings Technology Metals Ltd: Rights Issue Closing Date Extended
Sydney, Australia - On 10 April 2019, Hastings Technology Metals Ltd. (ASX:HAS) (Hastings or the Company) lodged a replacement prospectus with ASIC in respect of a partially underwritten non-renounceable rights offer to raise up to A$16.5 million (before costs) (Replacement Prospectus).The Company advises that due to delays in a number of shareholders receiving the Replacement Prospectus due to Easter public holidays, the Board has resolved to extend the Closing Date of the Offer to 5.00pm (WST) on Wednesday 8 May 2019.
As a result of this change, the updated Indicative Timetable for the Offer is as follows:
Event: Last day to extend the Rights Issue Offer closing date
Date: Monday, 29 April 2019
Event: Closing Date of Rights Issue Offer
Date: Wednesday, 8 May 2019
Event: Securities quoted on a deferred settlement basis
Date: Thursday, 9 May 2019
Event: Shortfall notification date
Date: Monday, 13 May 2019
Event: Issue of Rights Shares and Deferred Settlement Trading Ends
Date: Wednesday, 15 May 2019
Event: Anticipated date for dispatch of holding statements for Rights Shares and Rights Options
Date: Wednesday, 15 May 2019
The above dates are indicative only and may change without notice. The Company reserves the right to extend the Closing Date or close the Offer early without notice.
If shareholders require replacement documentation please contact the Company Secretary (guy.robertson@hastingstechmetals.com) who will reissue electronically.
About Hastings Technology Metals Ltd:
Hastings Technology Metals Ltd. (ASX:HAS) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.
- The Yangibana Project hosts Probable Reserves totaling 5.15 million tonnes at 1.12% TREO including 0.45% Nd2O3+Pr6O11 within JORC Resources totalling 21.0 million tonnes at 1.17% TREO (comprising Measured Resources of 3.9 million tonnes at 1.19% TREO, Indicated Resources of 8.6 million tonnes at 1.25% TREO and Inferred Resources of 8.4 million tonnes at 1.09% TREO), including 0.40% Nd2O3+Pr6O11.
- The Brockman deposit contains JORC Indicated and Inferred Resources totalling 41.4 million tonnes (comprising 32.3mt Indicated Resources and 9.1mt Inferred Resources) at 0.21% TREO, including 0.18% HREO, plus 0.36% Nb2O5 and 0.90% ZrO2.
- Rare earths are critical to a wide variety of current and new technologies, including smart phones, electric vehicles, wind turbines and energy efficient light bulbs.
- The Company aims to capitalise on the strong demand for rare earths permanent magnets created by expanding new technologies.
Source:
Hastings Technology Metals Ltd.
Contact:
Hastings Technology Metals Ltd. Email: info@hastingstechmetals.com WWW: www.hastingstechmetals.com
