Alvo Minerals Limited has signed a non-binding Letter of Intent with Pan American Silver Corp., to acquire 100% of the Lavra Velha Gold-Copper Project, located in Bahia State, Brazil. Alvo has a 45-day exclusivity period to complete Due Diligence, with DD already significantly advanced
Updated Entitlement Offer Pricing and Timetable
On 31 March 2025, Alvo Minerals Limited announced its intention to undertake a pro-rata non-renounceable entitlement offer of 1 fully paid ordinary share in the capital of the Company for every 2 Shares held by Eligible Shareholders at an issue price of $0.060 per Share with 1 free attaching option for every 2 New Shares issued.
The Company advises that it has amended the:
• Issue Price per New Share to be issued under the Entitlement Offer from $0.06 per New Share to $0.05 per New Share to raise approximately $2.93 million (before costs and excluding any additional capital that may be raised upon the exercise of the New Options);
• exercise price of the New Options from $0.14 per New Option to $0.10 per New Option.
The Updated Issue Price of A$0.050 per New Share represents a nil discount to the Company’s last closing price of A$0.50 per Share on 11 April 2025 and a 24.6 per cent discount to the 5-day VWAP of A$0.066 per Share.
As well as the updated pricing, an updated indicative timetable is included below, the Record Date for Eligible Shareholders to participate is 7:00pm on Thursday, 17 April 2025.
