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Bass Metals Announces Completion of $2 Million Convertible Note Raising for Graphmada Mine Capital Improvement Plan

Highlights

• Bass Metals Ltd has agreed to issue Convertible Notes (“the Notes”) to subscribers to raise A$2m from predominantly existing major shareholders, directors, and management.

• The Company is pleased to report strong demand and support from existing shareholders for the Notes which are issued on favourable terms to Bass.

• This funding allows the Company to continue its well-structured and planned Graphmada Mine Capital Improvement Plan and to remain on track for completion later this year.

• Delivery of the Capital Improvement Plan will result in the Company’s production increasing significantly with strong resultant positive cash flow expected.

• Directors and Management have subscribed for a significant portion of the Notes (subject to the necessary shareholder approvals).

• The Note issue leaves the Company in a strong financial position at 30 June 2017 – approximately A$3.2m in cash and receivables on hand.

Bass Metals Limited (ASX:“BSM”) (the “Company”) is pleased to announce it has completed the issue of Convertible Notes to the value of A$2m.


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