HIGHLIGHTS
- Share Purchase Plan launched to raise $3.5 million at 7 cents per share
- Offer includes free attaching listed options
- Funds raised to support the current Grandis and Nomgon projects
Elixir Energy Limited (EXR) (Company) announces that it has today launched a Share Purchase
Plan (SPP) to raise up to $3.5 million, on the same terms as the recently announced placement .
The Board is pleased to offer existing eligible Shareholders an opportunity to participate in this SPP.
The SPP will give all Eligible Shareholders, being those holders of shares with an address in Australia
or New Zealand on the Company’s share register on the Record Date, 7.00pm (AEST) on Friday, 25
August 2023 (Eligible Shareholders), an opportunity to apply for up to $30,000 worth of new Shares
(SPP Shares) at an issue price of 7 cents per SPP Share
For each two new Shares acquired, the Company will issue one free attaching listed option,
exercisable at 12 cents and with a term of three years, (SPP Options). The SPP is intended to raise
$3.5 million, with an ability to take an additional $2 million, at the Board’s absolute discretion. The
Board may, depending on the amounts subscribed by Eligible Shareholders under the SPP, exercise
its absolute discretion to scale back applications to the extent and in the manner it sees fit.
Both the Placement Options and the SPP Options will have the same terms and will expire on 17
October 2026 (Expiry Date), and the Company will be applying for quotation of those options on the
ASX.
No brokerage, commissions or other transaction costs apply for participation in the SPP.
The SPP is conditional on Shareholder approval to issue the SPP Shares and SPP Options at the
Company’s Annual General Meeting (AGM) to be held on 16 October 2023 (and, if such approval is
not obtained, the SPP Shares and SPP Options applied for will not be issued and all application
monies received will be refunded in full)
Use of funds
The proceeds from the Placement and SPP will be used by the Company to fund the following ongoing
initiatives:
- the drilling, completion, stimulation and flow testing of the Daydream-2 appraisal well as part of
the Grandis Gas Project, which well is due to spud in late October 2023;
- the ongoing Nomgon Project pilot, appraisal and exploration drilling programs as well as
expenditures in relation to pursuing the Company’s Gobi H2 Project in Mongolia; and
- working capital for the Company.
SPP terms and further information
The full terms and conditions in relation to the SPP are set out in the Company’s Prospectus dated 7
September 2023 (Prospectus). The Prospectus has been given to ASX and is available to view on
the ASX website and Elixir Energy Limited’s website at https://elixirenergy.com.au/. Further details
regarding the SPP have also been announced to the ASX and are available on ASX’s website.
Participation in the SPP is optional and the Board recommends that you read the Prospectus carefully
and in its entirety, before you decide whether to participate in the SPP. Additionally, the offer of SPP
Shares and SPP Options under the Prospectus does not take into account your individual investment
objectives, financial or taxation situation or particular needs. If you have any questions in relation to
the SPP, you should seek professional advice from your stockbroker, solicitor, accountant or other
independent and qualified professional adviser.
Shareholders should read the Prospectus in full prior to making an application under the SPP. Your
application under the SPP must be made by making payment in accordance with the payment
instructions on the SPP Application Form. Your participation in the SPP should be made using
Automic's online facility.
The SPP Offer closes at 5:00 pm (Adelaide time) on Friday, 6 October 2023.
Details Date
Record Date for the SPP 7.00pm (Adelaide time)
Friday, 25 August 2023
Lodgement of Prospectus with ASIC and ASX Thursday, 7 September 2023v
Opening Date SPP Thursday, 14 September 2023
Closing Date SPP 5.00pm (Adelaide time),
Friday, 6 October 2023
Announcement of results of the SPP Offer Tuesday, 10 October 2023
Annual General Meeting Monday, 16 October 2023
Proposed issue of SPP Shares and SPP Options Tuesday, 17 October 2023
Commencement of trading of SPP Shares and SPP Options on
ASX Wednesday, 18 October 2023
These dates are indicative only and subject to change. Elixir Energy Limited reserves the right to
change any date including to extend the closing date of the SPP, to close the SPP early, to accept
late acceptances either generally or in particular cases, or to withdraw or reduce the size of the SPP
without notice. Any extension of the closing date will have a consequential effect on the issue date of
the SPP Shares and SPP Options.
