Resouro Strategic Metals Inc. (ASX: RAU; TSX-V: RSM; FSE:BU9; OTC:RSGOGF) ("Resouro" or the "Company") is pleased to announce that following completion of its highly successful oversubscribed ASX Public Offering in Australia of CDIs, the Company will commence trading on the Australian Securities Exchange (ASX) on 14 June 2024 at 10.30am (AEST) under the ticker code “RAU”.

Resouro raised A$8,000,000 (before costs) via the issue of 16,000,000 CDIs at A$0.50 per CDI, with a ratio of 1 CDI for 1 Share in the Company, resulting in a market capitalisation of A$46.1 million following completion of the Public Offer.

The Company received strong demand from new and existing Australian institutional investors as well as retail investors under the bookbuild process in connection with the Public Offer.

Taylor Collison acted as Lead Manager to the Offer.

Resouro is an exploration company focused on the discovery and development of critical mineral resources, via the Company’s 90% ownership interest in the Tiros Project (Tiros). Tiros is a REE and titanium project covering an area of approximately 450km² in the Minas Gerais State, one of the leading mining jurisdictions in Brazil. Tiros is surrounded by established infrastructure with world class roads, rail, ports, power, water and qualified labour all in close proximity.

The immediate focus for the Company is to increase shareholder value by advancing the Tiros project. Funds raised from the Public Offer will largely be applied towards:

- progressing exploration activities including a targeted drill program with an aim to delineate a JORC compliant Mineral Resource;

- undertaking chemical and metallurgical testwork to determine scoping level requirements; and

- subject to the results of the exploration activities, commencing preliminary economic evaluation and undertaking preliminary technical studies.

The Company has an experienced board and management team in place with a broad range of mining, project development, financing, operational, technical and corporate skills in the resource industry. Resouro CEO, Chris Eager, is a mining engineer with 35 years of experience in the mining industry. Mr Eager was a co-founder of Monterrico Metals PLC which unlocked significant value in the Peruvian Rio Blanco copper project that was acquired in 2007 at a valuation of ~US$200 million. Mr Eager also co-founded Asia Energy PLC and CoalMont Ltd.

Commenting on Resouro’s ASX listing, Chris Eager, CEO, said:
“We are delighted with the outstanding response to Resouro’s ASX listing. The Board sees Resouro’s listing on the ASX as a great opportunity to capture the true value of the Company’s assets and is highly complementary to the current listing on the TSXV. On behalf of the Board and senior management, I would like to thank all investors for their strong interest in the Company. I would also like to personally welcome new shareholders to the Company and thank existing shareholders for their continued support throughout the Offer process.  

Resouro’s leading project, Tiros, is an exciting asset located in a Tier-1 mining jurisdiction. Brazil, hosts some of the world’s largest rare earth elements reserves, making it a potential major supplier globally. We look forward to accelerating our drilling program to enhance our understanding of the magnitude and grade potential of the Tiros project.

Tiros is being advanced at a time when demand for rare earth elements continues to grow in response to the electrification and decarbonisation of the global economy, which we believe will continue as countries seek to achieve their net-zero carbon emission targets.”