Overview of Andromeda Metals' supplementary prospectus for entitlement offer

Andromeda Metals Limited (ASX:ADN) has issued a supplementary prospectus dated 12 September 2024, in conjunction with the prospectus dated 27 August 2024, to provide entitled applicants with the right to withdraw their applications and to update key dates for the entitlement offer. The supplementary prospectus includes information about changes in the board and executive, an extension of the closing date for the entitlement offer, and the process for entitled applicants to withdraw their applications and receive repayment.

Executive commentary on the issuance of the supplementary prospectus

Luke Anderson has resigned as Chief Executive Officer and Managing Director, citing health reasons. Sue-Ann Higgins has taken on the role of Executive Chair, and Sarah Clarke has been appointed Acting CEO. Mick Wilkes will continue as a Non-executive Director to assist with financing discussions for the Great White Project. The company has extended the closing date for the entitlement offer to 7 October 2024. The supplementary prospectus aims to provide entitled applicants with the right to withdraw their applications and receive a refund of application monies paid to the company.

Summary of Andromeda Metals' supplementary prospectus and outlook

Andromeda Metals Limited (ASX:ADN) has issued a supplementary prospectus to allow entitled applicants the right to withdraw their applications and receive a refund of application monies. The company has made changes in the board and executive, with Luke Anderson resigning as CEO and Managing Director. The closing date for the entitlement offer has been extended to 7 October 2024. The company aims to ensure that entitled applicants are provided with the necessary information and options to make informed decisions regarding their applications. Entitled applicants have until 11 October 2024 to exercise their right to withdraw their applications, and any repayments will be made in full without interest as soon as practicable following the close of the withdrawal period.