Argosy Minerals Limited (ASX: AGY), a company focused on the exploration and development of lithium projects, has announced a Share Purchase Plan (SPP) Offer, aiming to raise up to $0.5 million before costs. The initiative provides eligible shareholders an opportunity to acquire new fully paid ordinary shares in the company without incurring brokerage or transaction fees. Funds raised from the SPP are designated to advance continuing feasibility and engineering works/studies for the company’s Rincon Project, support development activities, and for general working capital purposes.
Under the SPP Offer, shares are priced at $0.036 each. This represents a 16.3% discount to Argosy’s closing share price on Friday, 28 August 2026, and a 19.3% discount to the volume-weighted average price over the five trading days prior to the announcement. Eligible shareholders who participate in the SPP will also receive one free attaching unlisted option for every two SPP Shares subscribed for and issued. These options will be exercisable at $0.054 and are set to expire on 29 September 2028. Participation is open to shareholders with a registered address in Australia or New Zealand as of 5:00 PM (AWST) on 1 September 2026, with a maximum investment of $30,000 per eligible shareholder.
The SPP Offer aligns with a recently completed placement to institutional, sophisticated, and professional investors, which raised $3.0 million before costs at the same issue price, also including free attaching options. The SPP opened on Tuesday, 8 September 2026, and is scheduled to close at 5:00 PM (AWST) on Tuesday, 22 September 2026. SPP Shares and options are expected to be issued on 29 September 2026, with trading commencing the following day. Argosy Minerals retains the flexibility to accept oversubscriptions beyond the target amount or scale back applications, and the offer is not underwritten.
