Aura Energy Limited (ASX: $AEE) announces successful A$16.2 million placement

Aura Energy Limited (ASX: AEE, AIM: AURA) has received firm commitments from professional and sophisticated investors to raise approximately A$16.2 million through the issue of approximately 90.2 million fully paid ordinary shares at A$0.18 per share. The funds raised will assist Aura for pre-development activities at the Tiris Uranium Project with FID expected in 2024 and production expected in 2026. The raising will also support development of the Haggan Project in Sweden and provide additional working capital.

Aura's Managing Director and CEO Andrew Grove on the successful placement

We are delighted with the support for the Placement and welcome a number of highly credentialled investors to the register. Existing shareholders can participate in this exciting period of growth on the same terms as the Placement through the SPP.

Placement and Share Purchase Plan to drive Tiris Uranium Project and Haggan Project development

Aura Energy Limited has successfully secured approximately A$16.2 million through a placement, with commitments received from professional and sophisticated investors. The funds raised will assist Aura for pre-development activities at the Tiris Uranium Project with FID expected in 2024 and production expected in 2026. Additionally, the raising will support development of the Haggan Project in Sweden and provide additional working capital. The proposed A$2 million Share Purchase Plan will enable eligible existing shareholders to participate on the same terms as the Placement, subject to shareholder approval. The issue price of $0.18 per Placement Share represents a 18.2% discount to the last closing price of $0.22 on 14 March 2024, a 23.5% discount to the 5-day volume weighted average price (VWAP) of Shares, and a 22.3% discount to the 15-day VWAP of Shares. The Placement is not underwritten. The indicative timetable for the Placement and SPP is as follows: Quotation of SPP Shares and (if approved by ASX) quotation of SPP Options and Placement Options indicatively, early May 2024.