NewPeak Metals Ltd (ASX: $NPM) Share Placement Announcement

NewPeak Metals Ltd (ASX: $NPM) has successfully completed a share placement, raising $205,000 cash by placing 13.667 million shares at 1.5 cents to a new cornerstone investor, Mr. Gerhard Redelinghuys, founder of Bowen Coking Coal Ltd, Queensland. An additional subscription for 6.333 million shares at the same price has been agreed upon by Mr. Redelinghuys, subject to approval at the Company's planned EGM in late May 2024. The company also plans to undertake a Rights Issue to raise not less than $500,000 at the same issue price as the Placement shares.

Executive Commentary on Share Placement

Mr. Gerhard Redelinghuys, founder of Bowen Coking Coal Ltd, has expressed his confidence in NewPeak Metals Ltd by agreeing to the share placement and further subscription. The funds raised will be instrumental in supplementing the Company's cash resources from recent and future asset sales, enabling the execution of intended exploration activities on the Canadian properties and facilitating new acquisitions and general working capital.

Summary of Share Placement and Future Plans

NewPeak Metals Ltd (ASX: $NPM) has successfully completed a share placement, raising $205,000 cash and with a potential further subscription of $95,000 from Mr. Gerhard Redelinghuys. The funds will support the Company's intended exploration activities on the Canadian properties and be available for new acquisitions and general working capital. The Company also plans to undertake a Rights Issue to raise not less than $500,000. The Company's future plans include utilizing the funds from recent and future asset sales, emphasizing its commitment to exploration activities and potential acquisitions, while maintaining financial flexibility for general operations.