Olympio Metals' Equity Raising Announcement

Olympio Metals Limited (ASX: $OLY) has successfully raised approximately A$1.1 million (C$1.0M) through a Flow-Through Shares (FTS) placement under the Income Tax Act (Canada) to accelerate exploration at the Cadillac Lithium Project in Quebec. The FTS shares were placed at A$0.171 per share, representing an 88% premium to Olympio's closing price of A$0.09 per share on 4 March 2024.

Executive Commentary on Equity Raising

This placement secures funding for exploration at a premium to our share price and reduces shareholder dilution utilising the benefits of the Canadian flow through regime. Olympio has just completed its first diamond drilling program at the Cadillac Lithium Project in Quebec and intends to ramp up exploration over the coming months to unlock the potential of its 190km2 land package just 50km from the mining town of Val d'Or.

Summary of Olympio Metals' Equity Raising

Olympio Metals Limited (ASX: $OLY) has successfully raised A$1.1 million through a Flow-Through Shares (FTS) placement, enabling the company to accelerate exploration at the Cadillac Lithium Project in Quebec. The strengthened balance sheet resulting from the equity raising will support the company's ambitions to unlock the potential of its 190km2 land package near Val d'Or. The premium placement price reflects investor confidence in Olympio's exploration prospects. The company's focus on accelerating exploration indicates its commitment to advancing its corporate strategy and maximizing the potential of the Cadillac Lithium Project.