Ann: Renounceable Rights Issue to raise up to $6.2M, page-3

ASX ANNOUNCEMENTPage 1 of 3Argosy Minerals LimitedACN 073 391 189Level 2, 22 Mount Street, Perth, WA 6000PO Box 7054, Cloisters Square, Perth, WA 6850Ph: (08) 6188 8181 Fax: (08) 6188 81828 March 2019RENOUNCEABLE RIGHTS ISSUE TO RAISE UP TO $6.2M _________________________________________________________________________________________HIGHLIGHTSArgosy to undertake a partially-underwritten 1 for 15 renounceable rights issue at 10cents per share to raise up to approximately $6.2 million (before costs), with one attaching listed option offered for every 3 new sharesThe issue price represents an opportunity for existing shareholders to purchase shares at a 23% discount to the 10-day volume weighted average share price to theclose on 7 March 2019Rights Issue partially underwritten to $3 million by CPS, demonstrating strong interestfrom third-party investors for Argosy’s Rincon Lithium Project development strategyProceeds will be used to progress next stage development works at Rincon and put the Company in a strong position to finalise a strategic relationship/partnership forthe successful enlarged commercial development of the ProjectShareholders can trade their rights or apply for additional shares and attaching options – rights to start trading from 12 March 2019____________________________________________________________________________________________________________________________________________________________Argosy Minerals Limited (ASX: AGY) (“Argosy” or “Company”) is pleased to announce a renounceable rights issue to raise up to approximately $6.2 million. The offer is partially underwritten by CPS Securities Pty Ltd (“CPS”) to $3 million.The offer of securities will be made to eligible shareholders on the basis of 1 new share for every 15 existing shares held on the record date (13 March 2019) at an issue price of $0.10 per share, with 1 attaching listed option (exercisable at 20 cents, expiring 31 March 2022) for every 3 shares issued. The rights issue price represents an opportunity for existing shareholders to purchase shares at a 23% discount to the Company’s 10-day volume weighted average share price of $0.13 per share. Furthermore, the theoretical ex-rights price is $0.128 per share.Shareholders will be given the opportunity to apply for additional securities in excess of their entitlement. The issue is renounceable and tradable so shareholders that may not wish to take up their rights will be able to sell their rights or others can increase their guaranteed entitlement by the purchase of additional rights on-market.Argosy Managing Director, Jerko Zuvela said “The proceeds of the Rights Issue will allow the Company to build on the excellent progress made in the past year and continue engagement with potential Asian strategic partners for the full commercial development of our Rincon Lithium Project.We believe the Rights Issue represents a good outcome for existing shareholders, providing them with the opportunity to participate in this important capital raising on very attractive terms."For personal use only