TMT: Placement Completion And Release Of Project Flyover

Technology Metals Australia Limited (ASX: TMT) (“Technology Metals” or the “Company”) is pleased to announce it has completed the placement of 13,699,667 fully paid ordinary shares

(Placement Shares) at a price of A$0.15 per share to raise $2,054,950 before costs. Participants to the Placement received a 1 for 2 free attaching option exercisable at $0.25 on or before 15 June 2022

(Placement Options).

Funds raised via the Placement will be applied to progressing the development of the Gabanintha Vanadium Project, including advancing environmental work in support of the preparation of an Environmental Review Document (ERD), and general working capital. Drilling required to fully evaluate the good quality water source identified in a paleochannel to the north west of the processing facility prior to submission of the ERD is expected to commence early in the September quarter.

The Placement was supported by new and existing sophisticated and strategic investors, including an initial investment by Mr. Xu Jinfu, the Chairman and major shareholder of Guangzhou Tinci Materials Technology Co. Ltd, a leading manufacturer and marketer of battery materials. The strategic investors collectively have a wealth of experience and investments within the rapidly emerging battery metals markets.

This Placement is conducted under the Company’s current Placement capacity pursuant to ASX Listing Rule 7.1 and 7.1A as follows:

– ASX Listing Rule 7.1 (2,954,667 Placement Shares)1;

– ASX Listing Rule 7.1 (6,849,833 Placement Options); and

– 7.1A (10,745,000 Placement Shares).

– These Shares will be issued at a price of A$0.15 per share which represents:

• A 18% discount to the closing price on Friday 5 June 2020 of Technology Metals shares of A$0.15; and

• A 12.7% discount to the 15-day trading Volume Weighted Average Price (VWAP) of the Shares of A$0.169.