Placement Rights Issue Shortfall

Hastings Technology Metals Ltd (Hastings or Company) (ASX:HAS) is pleased to advise that it has placed a further 20,700,000 shares (and 10,350,000 attaching options) of the rights issue shortfall raising a further $3,519,000.

The rights issue announced on 9 April 2019 sought to raise $16.5 million through the issue of 97,058,823 shares at 17 cents per share and free attaching options on the basis of one option for every two new shares.

The last date for placing shares under the rights issue was 7 August 2019. In summary the Company has raised approximately $15 million through the issue of 88,001,357 new shares and 44,000,708 options.

The options (ASX : HASO) were listed on 17 May 2019.