Institutional Placement and SPP completed to raise $8.8 million Key

Hawsons Iron Ltd (Hawsons or the Company) has successfully completed its $1 million Share. Purchase Plan (SPP) Offer announced on 1 February 2023, in conjunction with an earlier $7.8 million Institutional Placement.

Net proceeds from the Placement and SPP are being used for working capital and to fund the Strategic Review’s action plan supporting a modified Bankable Feasibility Study (BFS) for the Hawsons Iron Project, based on 11 million tonne per annum (Mtpa). (See ASX Announcement dated 1 February 2023: Hawsons endorses 11 Mtpa BFS and Strategic Review action plan).

Chairman Mr Dave Woodall thanked Shareholders who supported the SPP and subscribed for almost half the available shares on offer.