Globe Metals & Mining enters into strategic financial arrangement

Globe Metals & Mining Limited (ASX: $GBE) has announced its entry into an At-the-Market Equity Facility (ATM Facility) with Long State Investments Limited, providing the company with up to $20,000,000 of standby equity capital over the next 2 years. The facility offers Globe the flexibility to strengthen its balance sheet as part of its funding strategy for the Kanyika Niobium Project. Globe also retains full control over the use of the facility, including the discretion to decide on the number of shares to be issued, the minimum issue price, and the timing of each subscription. There is no obligation on Globe to utilize the ATM Facility, and it can still raise capital from other sources or through other methods.

Executive commentary on the strategic financial arrangement

The establishment of the ATM facility diversifies Globe's funding base for the development of the Kanyika Project. This marks the initial step in our recently announced funding strategy, aimed at best supporting the Project while minimizing shareholder dilution. We further look forward to working with Long State on the development of key relationships associated with the Project.

Summary of Globe Metals & Mining's strategic financial arrangement

Globe Metals & Mining (ASX: $GBE) has entered into an At-the-Market Equity Facility (ATM Facility) with Long State Investments Limited, securing up to $20,000,000 of standby equity capital over the next 2 years. This move provides Globe with the flexibility to strengthen its balance sheet as part of its funding strategy for the Kanyika Niobium Project. The company retains full control over the use of the facility, including the discretion to decide on the number of shares to be issued, the minimum issue price, and the timing of each subscription. Long State will also provide strategic advisory services to Globe, including facilitating introductions with potential off-takers and strategic partners. Globe's CEO, Paul Smith, expressed optimism about the diversification of the funding base and the potential for key relationships associated with the Project. The Kanyika Niobium Project, located in central Malawi, is expected to benefit from this strategic financial arrangement, further advancing its development.