Completion of Share Purchase Plan by HazerGroup (ASX: $HZR)

Hazer Group Ltd (ASX: $HZR) has successfully completed its Share Purchase Plan (SPP), raising $5,393,000 before costs. The SPP, targeting A$4 million, closed with strong demand on 15 March 2024, with the Company receiving valid applications for 10,786,000 New Shares and 2,696,500 HZRO Options. The New Shares and HZRO Options will be issued on 20 March 2024 in accordance with the timetable.

Executive Commentary on Share Purchase Plan

We are very appreciative of the strong shareholder support for our Share Purchase Plan and on behalf of the Hazer Board and team would like to sincerely thanks all those who participated. With the successful completion of our Placement and SPP, we can now move forward this year with a robust balance sheet focussed on delivering our CDP test program and commercialisation strategy. Hazer's technology is now successfully proven in continuous operation at commercial demonstration scale and with interest multiplying, we are eager to provide potential customers with a low-cost hydrogen and decarbonisation solution that is available for deployment today.

Summary of Share Purchase Plan Completion

Hazer Group Ltd (ASX: $HZR) has completed its Share Purchase Plan (SPP) with strong demand, raising $5,393,000 before costs. The successful completion of the Placement and SPP enables the company to move forward with a robust balance sheet focused on delivering the CDP test program and commercialisation strategy. Hazer's technology, proven in continuous operation at commercial demonstration scale, aims to provide potential customers with a low-cost hydrogen and decarbonisation solution available for deployment today. The issuance of New Shares and HZRO Options is scheduled for 20 March 2024 in accordance with the timetable.