No Extension to Closing Date for Renounceable Rights Issue
Released
Released
Announcement PDF
Not for release to US wire services or distribution in the United States
19 April 2024
NO EXTENSION TO CLOSING DATE FOR
RENOUNCEABLE RIGHTS ISSUE
Hastings Technology Metals Ltd (ASX:HAS) (“Hastings” or “the Company”) would like to advise
shareholders that the Board have determined not to extend the closing date for the pro-rata
renounceable rights issue (“Rights Issue”), which will remain at Wednesday, 24 April 2024 at 5:00pm
(AWST).
As announced to the ASX on 27 March 2024, Hastings is inviting eligible existing shareholders to
subscribe for nine (9) new fully paid ordinary shares (“New Shares”) for every 20 existing shares held at
the Record Date of Wednesday, 3 April 2024. Hastings will also issue one (1) free attaching listed option
for every three (3) shares applied for and issued to eligible shareholders with an exercise price of $0.50
and an expiry date of two years post-issue date.
Further details of the Rights Issue including details on how to accept the invitation and key risks
associated with an investment in the Company are set out in the Prospectus which is available here.
Eligible shareholders should read the Prospectus carefully and consult their professional advisors as
necessary.
Any shareholders who need further information about the Rights Issue or have not received their
Entitlement and Acceptance Form can contact Hastings’ dedicated Automic line on 1300 816 156 or
+61 2 8072 1416 between 8:30am and 7:00pm (AEST) from Monday to Friday or email
corporate.actions@automicgroup.com.au.
Rights holders who have purchased their rights on-market can also contact Automic for a copy of their
Entitlement and Acceptance Form. Alternatively, the form can also be downloaded via the link here.
All shareholders and rights holders will need to ensure their Entitlement and Acceptance Form is
submitted and application moneys for their entitlements are received by Automic by no later
than 5:00pm on Wednesday, 24 April 2024.
Authorised by the Board for release to the ASX.
FOR FURTHER INFORMATION CONTACT:
Stephanie Vanicek
Communications Manager
+61 405 183 237
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in
the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the
United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered
under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or
not subject to, the registration of the US Securities Act and applicable US state securities laws.
Not for release to US wire services or distribution in the United States
ABOUT HASTINGS TECHNOLOGY METALS LIMITED
Hastings Technology Metals Limited is a Perth-based rare earths company focused on the development
of its 100% owned Yangibana Rare Earths Project. Located in the Gascoyne region of Western Australia,
the Yangibana Project contains one of the most highly valued deposits of NdPr in the world with an NdPr
to Total Rare Earth Oxide ratio of up to 52% in some areas of the orebody.
With an initial mine life of 17 years, the Yangibana Project will become a globally significant source of
NdPr, a critical component in the manufacture of permanent magnets used in advanced technology
products including electric vehicles, renewable energy, humanoid robotics, and digital devices.
The Yangibana Project is fully permitted for immediate development and is well-timed to meet the
forecast supply gap for rare earth elements accelerated by the growth in electric vehicles and wind
turbines, both vital for the global energy transition. It will be developed in two stages with an initial focus
on the construction of the mine and beneficiation plant to produce 37,000 tonnes per annum of mixed
rare earth concentrate.
Hastings continues to assess downstream processing opportunities including the development of a
hydrometallurgical plant to capture more of the rare earth value chain. The Company holds a strategic
21.15% shareholding in TSX-listed Neo Performance Materials, a leading global rare earth processing
and advanced permanent magnets producer, providing future optionality to explore the creation of a
mine to magnet supply chain.
For more information, please visit www.hastingstechmetals.com
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