Delta Lithium Limited (DLI.AX) Completion of Retail Component of Entitlement Offer

Delta Lithium Limited (ASX:DLI) is pleased to announce the successful completion of the retail component (Retail Entitlement Offer) of its fully-underwritten accelerated non-renounceable entitlement offer to eligible shareholders on the basis of two (2) new fully paid ordinary shares in Delta (New Shares) for every seven (7) existing shares (Entitlement) to raise $70.2 million (before costs) (Entitlement Offer).

The Retail Entitlement Offer closed at 2.00pm (Perth time) on Monday, 4 December 2023 and raised approximately $28.4 million at the offer price of $0.46 per New Share (Offer Price).

Together with the institutional component of the Entitlement Offer (Institutional Entitlement Offer) that raised approximately $41.8 million, the total amount raised is approximately $70.2 million.

The Retail Entitlement Offer received applications from existing retail shareholders totalling approximately $5.7 million. In addition to each eligible retail shareholder's entitlement, eligible retail shareholders were offered the opportunity to apply for New Shares in excess of their entitlement, up to a maximum amount of 100% of their entitlement under the retail top up facility. Eligible retail shareholders were allocated approximately $1.0 million of New Shares under the retail top up facility. Approximately $21.7 million in New Shares not taken up under the Retail Entitlement Offer (including the retail top up facility) have been allocated to Mineral Resources Limited (ASX:MIN) as underwriter (Mineral Resources or Underwriter).

The New Shares issued pursuant to the Institutional Entitlement Offer were allotted and issued on Tuesday, 21 November 2023. The New Shares subscribed for pursuant to the Retail Entitlement Offer will be allotted and issued on Monday, 11 December 2023 and commence trading on ASX on Tuesday, 12 December 2023. All New Shares issued or to be issued under the Entitlement Offer will rank equally with existing shares on issue.

Commenting on the Retail Entitlement Offer, Delta's Managing Director, James Croser said:

"The closure of the Retail Entitlement Offer last Monday sees Delta banking $70.2 million in total funding for our strategic goals well into the medium term.

We were delighted to have structured this raising to give every Delta shareholder the opportunity to participate on equal terms, and equally appreciate the support of MinRes in underwriting the shortfall.

I thank all our existing shareholders who have supported the entitlement offer. We now look forward to delivering on our strategy. The significantly enhanced exploration program across our existing ground at Yinnetharra and Mt Ida together with the new tenure at Lyons River provides exciting potential for the Company over the upcoming periods."

To view the Indicative Timetable, please visit:
https://abnnewswire.net/lnk/2R5Q3X4W

Delta Lithium 
James Croser, Managing Director
+61-8-6109-0104
info@deltalithium.com.au

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Jono van Hazel +61-411-564-969

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