iTech Launches Share Purchase Plan (SPP)

On 17 July 2024 the board of directors (Board) of iTech Minerals Ltd (ACN 648 219 050) (iTech or Company) announced a $1.8 million equity raise to fund mineral exploration and studies and working capital.

On behalf of the Board, I am pleased to offer eligible shareholders the opportunity to subscribe for up to $30,000 of new fully paid ordinary shares in the Company (New Shares) and a minimum of $2,500 of New Shares, free of brokerage and commission, under a Share Purchase Plan (SPP or Plan).

The right to participate in the offer under the Plan is optional. It is available exclusively to shareholders who are registered as holders of fully paid ordinary shares in the capital of the Company (Shares) at 7:00 pm (AEST) on 16 July 2024 (Record Date) and whose address is recorded in the Company’s register of members as being in Australia or New Zealand (Eligible Shareholders).

The SPP is targeting to raise up to $1.0 million. If the total demand for the SPP exceeds $1.0 million, then the Company reserves the right to close the SPP early and/or scale back applications or to increase the amount raised under the Plan (subject to the maximum permitted under the ASX Listing Rules).

The SPP issue price is $0.071 (7.1 cents) per New Share:

• is the same issue price as the $1.8 million placement; and
• represents a 19.9% discount to the volume weighted average price of Shares over the last 5 days on which sales of the Shares were recorded by ASX prior to the date of the announcement of the SPP on 17 July 2024.

It is intended that the funds raised from the SPP will be used towards:

(a) Reynolds Range: Scimitar Prospect Cu-Au-Ag diamond drilling and regional Cu-Au-Ag and Li exploration and drilling;

(b) Lacroma and Sugarloaf metallurgy;

(c) Graphite Pilot Plant scoping study; and

(d) working capital.

Eligible Shareholders will also be able to access their personalised SPP Application Form online from today at https://investor.automic.com.au/#/home

Details of the Plan are set out in the Terms and Conditions and the personalised application form enclosed with this letter. The Board urges you to read these Terms and Conditions carefully and in their entirety before deciding whether or not to participate in the Plan. If you are uncertain whether New Shares are a suitable investment for you, then you should consult your financial or other professional adviser.

On behalf of the Board, I invite you to consider this opportunity to increase your investment in the Company.

Glenn Davis
Chairman
iTECH MINERALS LTD