Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed capital raising by Matador Mining Limited (ASX.MZZ)

The Company is proposing to raise approximately A$3.0m by way of an institutional placement to sophisticated, professional and institutional investors, comprising:

– The issue of approximately 17.4m new ordinary fully paid shares issued at $0.115 per share to raise A$2.0m, and

– The issue of approximately 7.7m new ordinary fully paid shares issued under the Canadian Flow-Through structure at a price of $0.13 to raise A$1.0m.

The Company reserves the right to take oversubscriptions.

The Company is considering undertaking a Share Purchase Plan for eligible shareholders in Australia and New Zealand which will be non-underwritten and capped at an amount of A$1.0 million. Eligible shareholders will be able to apply for up to A$30,000 worth of New Shares in the Company. The full terms of the SPP will be included in the offer booklet.

The offer price of $0.115 per share represents a 14.8% discount to the last close (A$0.135) on Tuesday, 12 July 2022; and a 18.8% discount to the 5 day VWAP (A$0.1417) up to and including Tuesday, 12 July 2022.

The capital raising will fund diamond drilling of high priority greenfield exploration targets in Malachite, as well as further advance greenfield exploration targets.

Matador is a gold exploration company with exploration tenements in the lightly explored but highly prospective Cape Ray Shear Zone in Newfoundland, Canada. The Cape Ray Shear Zone is a geological structure that extends approximately 400km through Newfoundland. Matador is the largest holder of ground with approximately 120km of continuous strike along the shear, of which only 15km has been drilled.

The offer is available to Australian Sophisticated and Professional Investors only.