Ionic Rare Earths Raises AU$1.65 million to Advance Key Projects

Highlights:

• Ionic Rare Earths Limited (ASX: IXR) secures funding through a share placement at AU$0.007 per share to drive key recycling and refining projects.
• Shareholders can participate in a Security Purchase Plan to raise an additional AU$500,000, with options for every two shares subscribed.
• Proceeds will support the Belfast magnet recycling project, Brazilian rare earth refining JV, and Makuutu tenements, advancing the company's sustainable rare earth initiatives.

Capital Injection to Propel Recycling and Refining Initiatives

Ionic Rare Earths Limited (ASX: IXR) has successfully secured AU$1.65 million through a share placement at AU$0.007 per share, with firm commitments received from institutional and sophisticated investors. At the time of writing, the placement involves the issuance of approximately 235.7 million shares and 117.8 million options, which carry an exercise price of AU$0.011 and expire on December 15, 2027.

The raised funds are earmarked to drive the development of the Ionic Technologies Belfast magnet recycling project and the Brazilian rare earth refining joint venture, Viridion.

Security Purchase Plan (SPP) Announced

Shareholders of Ionic Rare Earths will also have an opportunity to participate in the fundraising via a non-underwritten Security Purchase Plan (SPP). Eligible shareholders can apply for up to AU$30,000 worth of shares at the same AU$0.007 price. The SPP aims to raise an additional AU$500,000, with every two shares subscribed under the plan entitling investors to one option.

The SPP opens on December 2, 2024, with allotments expected by December 23, 2024.

Strategic Focus and Outlook

The funds will bolster Ionic Rare Earths' capacity to finance its recycling and refining projects, maintain tenements at the Makuutu site, and provide working capital. The projects align with the company's strategy to advance sustainable rare earth solutions globally.

IonicRE's joint lead managers for the placement, MST Financial Services and GBA Capital, have supported this significant fundraising effort, reflecting strong market confidence in the company's vision.

With this capital raise, Ionic Rare Earths is strategically positioned to accelerate its initiatives and capitalize on the growing demand for rare earth materials in recycling and renewable energy sectors.

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