Altamin’s $6.46M Entitlement Offer Priced at 2.5 Cents per Share

Capital Raising to Support Key Projects

Altamin Limited (ASX, AZI) has officially opened its retail entitlement offer, aiming to raise up to approximately $6.46 million through the issuance of new shares priced at 2.5 cents each. This capital raising follows the recent institutional entitlement offer and is designed to provide fresh funding primarily for exploration activities at the company’s Lazio Project, alongside maintaining the Gorno Project in good standing.

The offer allows eligible retail shareholders to subscribe for 45 new shares for every 100 shares held as of the record date, 24 September 2025. This pro-rata entitlement is non-renounceable, meaning shareholders cannot sell or transfer their rights, and any unexercised entitlements will lapse without value, potentially diluting their ownership.

Strategic Use of Proceeds and Offer Mechanics

The funds raised will predominantly support exploration and related activities at Lazio, a project that remains central to Altamin’s growth strategy. Additionally, a portion of the proceeds will cover working capital expenses to maintain the Gorno Project, as well as general corporate costs and expenses related to the entitlement offer itself.

Notably, the offer is not underwritten, which introduces some subscription risk if shareholders do not fully participate. The company retains discretion to vary the use of proceeds as project developments unfold, reflecting a flexible approach to capital allocation amid evolving operational needs.

Participation Details and Timetable

Eligible retail shareholders can access the Retail Offer Booklet and personalised Entitlement and Acceptance Form online, with the offer officially opening on 29 September 2025 and closing on 8 October 2025. New shares are expected to be allotted by 13 October, with trading anticipated to commence shortly thereafter.

Altamin’s management encourages shareholders to carefully consider their options, including taking up full or partial entitlements or applying for additional shares under a top-up facility subject to scale-back policies. The company also advises shareholders to seek professional advice regarding the tax implications and financial considerations of participating.

Outlook and Market Implications

This capital raising marks a critical step for Altamin as it seeks to advance exploration efforts in Lazio, a project with significant potential to enhance the company’s resource base. Maintaining the Gorno Project also ensures the company preserves valuable assets while focusing on growth. However, the non-underwritten nature of the offer and the dilution risk for non-participating shareholders add layers of complexity to investor decisions in the near term.