Mithril Resources Limited (ASX:MTH) Rights Issue Closure and Shortfall Notification

Date: Dec 18, 2018

Mithril Resources Ltd (“Mithril” or the “Company”) (ASX:MTH) has completed a capital raising comprising a Placement and a subsequent fully underwritten non-renounceable pro-rata rights issue (“Rights Issue”) to raise a total of $1,110,231 (before costs).

The Company raised $150,257 through the Placement pursuant to Section 708 of the Corporations Act (Cth) at an issue price of $0.005 (0.5 cents) per new share (see ASX Announcement dated 19 November 2018).

The Rights Issue, conducted at the same issue price, made pursuant to the Prospectus dated 19 November 2018 closed on 13 December 2018 raising $383,725.

Funds raised by the Placement and Rights Issue will be used to further advance priority zinc and nickel targets at the Billy Hills and Kurnalpi Projects respectively, support ongoing target generation activities and for working capital purposes. The Company intends to commence nickel exploration at Kurnalpi (with a ground EM geophysical survey) as soon as possible with zinc exploration activities to commence at Billy Hills once the northern Wet Season concludes, expected to be late March 2019.

The Rights Issue offered 187,209,980 New Shares on the basis of five (5) new shares for every six (6) ordinary shares held by Shareholders at the Record Date at an issue price of $0.005 (0.5 cents).

The results of the Rights Issue are as follows:

– Total number of shares applied for:    76,745,116

– Shortfall:                            115,250,358


Patersons Securities Ltd (“Patersons”) acted as Lead Manager to the Placement and Rights Issue and fully underwrote the Rights Issue.

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