3 May 2024

Future Metals NL

Proposed Options Entitlement Offer

Highlights

§  Proposed Entitlement Offer of one (1) new 3-year option exercisable at 6 cents ("New Option"), at an issue price of 0.025 cents each, for each existing 10 cents ASX listed option (ASX:FMEO) held at the record date

§  Allows eligible FMEO option holders to continue to participate in the ongoing development of the Company

Future Metals NL ("Future Metals" or the "Company", ASX | AIM: FME), is pleased to announce that it intends to offer eligible holders of existing FMEO ASX listed options ("FMEO") a non-renounceable Entitlement Offer to subscribe for 1 New Option for every 1 FMEO Option held at an issue price of 0.025 cents per New Option, raising a nominal A$40,000 (before costs) ("Entitlement Offer").

The existing Listed Options have an exercise price of A$0.10 each and are scheduled to expire on 11 June 2024. Each New Option will be exercisable at a price of A$0.06 per share and expire 3 years from their date of issue. The Company intends to seek shareholder approval at its upcoming general meeting to be held in June 2024, formal notice of which will be sent in due course ("General Meeting").

The Company intends to apply for the quotation solely on the ASX of the New Options to be issued under the Entitlement Offer. The New Options will therefore not be admitted to trading on AIM.

The Company will issue a prospectus ("Prospectus") in relation to the issue of the New Options before shareholder approval is sought at the upcoming General Meeting.

Eligible option holders should consider the Prospectus in deciding whether or not to acquire securities under the Entitlement Offer and will need to complete their personalised entitlement and acceptance form that will accompany the Prospectus.

The Company advises that, subject to shareholder approval, the eligible Directors intend to take up any entitlements available to them under the Entitlement Offer.

Planned Underwriting

The Company has engaged CPS Capital Group Pty Ltd ("CPS") to act as underwriter for the full Entitlement Offer ("Underwritten Amount"), being 100% of the funds to be raised under the Entitlement Offer based on the number of FMEO Options on issue at the date of the Prospectus. 

Pursuant to the Underwriting Agreement with CPS, the Company has agreed to pay CPS a 6% fee on the gross proceeds raised under the Entitlement Offer.

*All amounts are in Australian currency unless otherwise indicated.

This announcement has been approved for release by the Board of Future Metals NL.

For further information, please contact:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as is forms part of United Kingdom domestic law pursuant to the European Union (Withdrawal) Act 2018, as amended by virtue of the Maret Abuse (Amendment) (EU Exit) Regulations 2019.

NOT AN OFFER

This announcement is for information purposes only and is not a prospectus, product disclosure statement or any other offering document under Australian law or the law of any other jurisdiction (and will not be lodged with the Australian Securities and Investments Commission ("ASIC") or any foreign regulator). The information does not and will not constitute or form part of an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of securities in any jurisdiction and neither this announcement nor anything in it shall form any part of any contract for the acquisition of Future Metals securities. The distribution of this announcement in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions.

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OF AMERICA

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 ("US Securities Act") and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.