Element 25 Limited announces an AU$35 million placement

Element 25 Limited (ASX: E25) announced that it had received binding commitments to raise AU$35 million. The placement includes the issue of approx. 31,250,000 fully paid ordinary shares at AU$1.12 per new share. The issue price denotes a 22.0% discount to the last closed price and a 13.1% discount to the ten-day Volume Weighted Average Price.

The funds raised via the placement will support the company's battery-grade High Purity Manganese Sulphate project feasibility works, operating cost reduction capital costs, engineering optimisation works, and general working capital requirements. Petra Capital and Blackwood Capital performed as Joint Lead Managers and Joint Book runners to the placement.

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