SHARE PURCHASE PLAN OFFER
Altech Chemicals Limited (ASX: ATC, “Altech” or “Company”) has recently completed a placement that was conducted in-house. The Company is pleased to advise shareholders that it raised a total amount under the placement of $8,128,506 via the issue of 77,414,345 fully paid shares at 10.7 cents per share.
The Company will utilise the placement funds, and is seeking additional funds pursuant to this SPP, to further develop its downstream alumina coated battery materials business which could be a game-changer for the electric vehicle battery market. Altech intends to allocate funds raised from the placement, as well as this SPP, to the acquisition of land to house a battery materials coating pilot plant in Germany, construction of the pilot plant, completion of a Preliminary Feasibility Study in relation to a 10,000 tpa battery materials coating plant to be housed on the same land in Germany as the pilot plant, and completion of a Definitive Feasibility Study in relation to the 10,000 tpa battery materials coating plant.
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