Mayur Resources' Increased Capital Raising Announcement

Mayur Resources Limited (ASX: $MRL) has announced an increase in its capital raising to A$10 million from new and existing institutional and sophisticated investors. The increase is attributed to additional commitments that were secured, with administrative delays in processing the necessary paperwork resulting in these commitments being omitted from the initial announcement. The total issuance will be 50 million Chess Depositary Interests (Placement CDIs) at a price of A$0.20 per CDI and 25,000,000 Options on a 1 Option for every 2 CDIs allocated basis (Attaching Options). The Placement is anticipated to settle on 22 March 2024, in line with the original schedule.

Executive Commentary on Capital Raising Increase

The increase in capital raising reflects the strong support from both new and existing investors. We are pleased with the additional commitments secured, and we remain committed to the timely settlement of the Placement. This increase will further strengthen our financial position and support the ongoing development of our diverse asset portfolio, including our Central Lime Project. We appreciate the continued confidence shown by our investors in our strategy and business practices.

Summary of Mayur Resources' Announcement

Mayur Resources Limited (ASX: $MRL) has increased its capital raising to A$10 million, with the Placement CDIs and Attaching Options to be issued at a price of A$0.20 per CDI. The increase in capital is attributed to additional commitments secured from new and existing institutional and sophisticated investors. The Placement is anticipated to settle on 22 March 2024, in line with the original schedule. This increase in capital will further strengthen the company's financial position and support the ongoing development of its diverse asset portfolio, including the Central Lime Project. Mayur Resources remains committed to engaging with host communities and incorporating internationally recognised Environmental, Social and Governance (ESG) standards into its strategy and business practices.