EQ RESOURCES LIMITED (EQR)

The suspension of trading in the securities of EQ Resources Limited will be lifted immediately following the release by EQR of an announcement regarding a capital raising.

EQR has received firm commitments to raise $4.9M (before costs) via a share placement with an issue price of $0.04 per share, along with 1-for-1 free attaching unlisted options, exercisable at $0.0675 each. Funds managed by Oaktree Capital Management L.P cornerstoned 20% of the Placement, to increase its equity interest in EQR. The Placement attracted strong interest from both new and existing domestic and international institutional and sophisticated investors. Proceeds from the Placement will be used to fund capital projects related to waste stripping, plant expansion and optimisation works at Mt Carbine and working capital.

The securities of EQ Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of EQR, pending the release of an announcement regarding a capital raising.

The suspension of trading in the securities of EQ Resources Limited will be lifted immediately following the release by EQR of an announcement regarding the outcome of a capital raising.

Firm commitments received to raise $9.5M (before costs) via a well-supported share and options placement at an issue price of $0.045 per share, along with 1-for-3 free attaching unlisted options, exercisable at $0.0675 each (Placement). Oaktree Capital Management took 15% of the Placement to maintain its interest in EQR. Proceeds from the Placement will be used for working capital and fund owners' costs, unlocking Tranche A of the $20 million QIC facility to double Mt Carbine plant capacity to 2 mtpa. Subject to shareholder approval, the Directors propose collectively contributing A$230,000 to the Placement. Subject to shareholder approval, the Company will repay its $1.8m loan to Director Zhui Pei Yeo on the same terms as the Placement.

The securities of EQ Resources Limited will be suspended from quotation immediately under Listing Rule 17.3, pending it releasing an announcement regarding a capital raising. The securities will remain suspended until an announcement is released to the market regarding the outcome of the capital raising.

The suspension of trading in the securities of EQ Resources Limited will be lifted immediately following the release by EQR of an announcement regarding a material acquisition and capital raising.

EQR agreed binding terms to acquire leading European tungsten producer Saloro S.L.U. from global investment manager, Oaktree. Transformational acquisition strengthens EQR's relevance in the global tungsten industry and enhances the company's capital market positioning. As part of the transaction, Oaktree invests $25 million into EQR, through the subscription of 278 million new ordinary shares at $0.09 per share (representing a ~30% premium to the 15 days VWAP). Through the combination of operations, EQR becomes the largest tungsten concentrate producer in the Western World, with a robust growth pipeline across two top-tier mining jurisdictions. The transaction remains subject to various closing conditions, including the approval of foreign direct investment agencies both in Australia and Spain.

The securities of EQ Resources Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of EQR, pending the release of an announcement regarding a material acquisition and capital raising.

name changed from Speciality Metals International Limited