Tawana Resources NL

Canaccord Genuity is pleased to announce the completion of a placement of 60 million shares at an issue price of AUD$0.25 per share, raising gross proceeds of AUD$15 million on behalf of Tawana Resources NL (“Tawana”) (ASX.TAW). Canaccord Genuity acted as Lead Manager and Bookrunner to the transaction which saw strong demand from new and existing, domestic and international shareholders.

The proceeds of the placement, together with existing funds available to Tawana, will be primarily used to fund Tawana’s JV obligations for capital expenditure for the development of the Bald Hill Lithium and Tantalum Project.

Tawana is an ASX listed lithium company focused on becoming a spodumene producer in 2017. Its principal projects are the Bald Hill Lithium and Tantalum Mine (earning a 50% interest) and the adjacent Cowan Lithium Project.