RareX Raises $2.7 Million

RareX is pleased to announce a successful fundraise of A$2.7 million from institutional, sophisticated, and professional investors, demonstrating confidence in our rare earths portfolio. This capital injection enables us to advance and de-risk projects at Cummins Range and Mrima Hill. The offer included attractive free-attaching options for investors. Existing shareholders and new participants showed strong support, exceeding demand. The Board's subscription further underlines commitment to the Company's growth.

This fund will finance key activities such as progressing procurement at Mrima Hill, gallium definition at Cummins Range, exploration drilling programs, and general operational expenses. Investors interested in the strategic direction and catalysts lined up for our projects are encouraged to engage through our Investor Hub. The Placement settlement is expected on May 21, with further issuance and shareholder approvals scheduled for July. RareX team, with Canaccord Genuity and Evolution Capital, remains focused on delivering growth and value to our stakeholders. For detailed insights, please refer to the Appendix 3Bs released concurrently. Your questions and feedback are welcome, and we look forward to updating you on our progress.