Suvo Strategic Minerals raises $2 million with PERMAcast support

Proactive - Interviews for investors

Suvo Strategic Minerals Ltd (ASX:SUV) executive chairman Aaron Banks joins Proactive’s Tylah Tully to discuss the $2 million the company secured through an oversubscribed placement at $0.048 per share, supporting its development and commercialisation of low-carbon cement Intellectual Property (IP). In further news, Suvo’s subsidiary Climate Tech Cement Pty Ltd (CTC) has signed a Shareholders Agreement with PERMAcast R&D Pty Ltd, establishing a 50/50 joint venture. The JV aims to commercialise low-carbon concrete products and projects, leveraging intellectual property developed under the Joint Development Agreement announced in July 2024. PERMAcast, Western Australia’s leading supplier of precast and prestressed concrete products, will provide critical market insights and expertise to accelerate product development and market introduction. Shareholders of PERMAcast also contributed 15% of the funds in the placement. Suvo will issue 41,666,666 shares to institutional, professional, and sophisticated investors, with 20,833,333 free attaching unquoted options exercisable at $0.075 for a two-year term. The issue price represents a 12.1% discount to the 30-day volume-weighted average price and an 11.1% discount to the last close price. Settlement of funds is expected on October 28, 2024, with shares to be allotted on October 29, 2024. Bell Potter Securities acted as lead manager for the placement. #ProactiveInvestors #SuvoStrategicMinerals #ASX #GreenCement #LowCarbonCement #CapitalRaise #NickelSlag #SustainableCement #GeopolymerCement #InstitutionalInvestors #PERMAcast #ASXListed #MineralsDevelopment #CementInnovation #PrecastConcrete #PTHuadi #CarbonNeutral #OversubscribedPlacement #InvestmentOpportunity #CementIndustry #BellPotterSecurities #SuvoInvestors