Askari Metals trading halt request

Askari Metals Limited (ASX: $AS2) has requested a trading halt for the release of an announcement regarding a capital raising (Placement). The funds raised from the Placement will be utilized to support the ongoing exploration and development programs at the Uis Lithium Project in Namibia and pursue the acquisition strategy of tier-1 uranium projects in Southern Tanzania. The trading halt is expected to remain in place until the announcement is released to the market or the commencement of trade on Friday, 22 March 2024.

Executive Commentary on Trading Halt Request

The Company is seeking a trading halt to facilitate the forthcoming announcement related to a capital raising initiative. The funds generated from this Placement will play a crucial role in advancing our exploration and development activities at the Uis Lithium Project in Namibia. Additionally, it will support our strategic objective of acquiring tier-1 uranium projects in Southern Tanzania. We believe that this trading halt is necessary to ensure that the market receives the information in a fair and orderly manner. We are committed to keeping our stakeholders informed and will provide further updates as soon as possible.

Summary of Trading Halt Request and Company's Objectives

Askari Metals Limited (ASX: $AS2) has requested a trading halt in anticipation of an upcoming announcement regarding a capital raising initiative. The funds raised from this Placement will be directed towards the ongoing exploration and development programs at the Uis Lithium Project in Namibia and the pursuit of tier-1 uranium projects in Southern Tanzania. The Company aims to utilize the raised capital to advance its strategic objectives and enhance its position in the respective markets. The trading halt reflects the Company's commitment to transparent and orderly dissemination of information to the market, ensuring that all stakeholders have equal access to the forthcoming announcement.