Sovereign Metals Limited, a mining company listed on the Australian Securities Exchange (ASX), London Stock Exchange’s AIM market, and the OTCQX market, recently addressed media speculation regarding a potential capital raise. The company confirmed its engagement of Petra Capital as the Lead Manager and Sole Bookrunner for a planned A$40 million fundraise through a share placement at A$0.85 per share. The funds from this initiative are intended for the development costs of the Kasiya Rutile Graphite Project, covering expenses such as permitting, studies, working capital, and offer costs. It should be noted that the completion of this fundraise is not guaranteed, and the final terms remain uncertain at this stage.

To comply with regulatory procedures, trading of Sovereign Metals’ shares on the ASX has been voluntarily halted until the company announces the outcomes of the capital raising or trading resumes on Wednesday, March 26, 2025. However, trading on AIM, the London Stock Exchange’s market, will continue unaffected during this period. The company plans to release further updates as necessary.

In response to the media speculation, Sovereign Metals emphasized its commitment to transparency and compliance with market regulations. The company’s Managing Director & CEO, Frank Eagar, and CCO, Sapan Ghai, provided contact details for investor inquiries, ensuring open communication with stakeholders.

It is important to note that this announcement may contain forward-looking statements, reflecting Sovereign’s expectations for future events. While these statements are based on the company’s current beliefs and assumptions, they are subject to various risks and uncertainties that could lead to actual results differing from the projections. Sovereign Metals undertakes no obligation to update these forward-looking statements following the release of this announcement.

This information release by Sovereign Metals is considered inside information under relevant market regulations. By making this announcement via a Regulatory Information Service, the company has made this information public as required. The news service of the London Stock Exchange, RNS, has approved this release.

In conclusion, Sovereign Metals’ decision to pursue a significant fundraise underscores its strategic vision for advancing the Kasiya Rutile Graphite Project. The company’s engagement with reputable financial firms and adherence to regulatory protocols demonstrate its commitment to responsible corporate governance and sustainable growth. Investors and stakeholders will be eagerly awaiting further developments as Sovereign Metals navigates this critical stage of its project development.