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Alliance Minerals Assets
A$38m

Canaccord Genuity acts as Underwriter, Bookrunner and Lead Manager to a AUD$25 million fully underwritten private placement and Joint Lead Arranger to AUD$13 million of debt funding for Alliance Mineral Assets Limited

Canaccord Genuity is pleased to announce the completion of a fully-underwritten placement of 76.5 million shares at an issue price of SGD$0.33 per share, raising gross proceeds of the SGD equivalent to AUD25 million on behalf of Alliance Mineral Assets Limited (“Alliance”) (SGX.40F). In addition, an AUD13 million debt funding package lead by Tribeca Investment Partners was secured by Alliance. Canaccord Genuity acted as Underwriter, Bookrunner and Lead Manager to the placement and Joint Lead Arranger to the debt funding package.

Alliance also intends to raise up to an additional AUD$7.8 million by way of a conditional placement to substantial shareholder Burwill, which is non-underwritten and is subject to shareholder approval.

The proceeds of the placement and debt will be used to fund working capital and capital expenditure to continue commissioning, future exploration and other initiatives at Tawana’s Bald Hill Lithium and Tantalum Project (“Bald Hill Project”).

Alliance’s principal project is the Bald Hill Project (in which it has a 50% interest) in Western Australia. Production of lithium concentrate at the Bald Hill Project commenced in March 2018, with first lithium concentrate delivery anticipated in April 2018.

Alliance has also agreed to undertake a merger of equals with Tawana Resources NL (ASX.TAW) (“Tawana”), its 50% joint venture partner in the Bald Hill Project. The merger will result in a merged group with a pro-forma market capitalisation of AUD$446 million and is expected to complete in Q4 2018.

The Canaccord Genuity (Australia) deal team consisted of Marcus Freeman, Daniel Baohm, Alex Berezner, Tracy Le, David Lenormand and Nathan Leong.

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