Shaw and Partners is pleased to be appointed as Joint Lead Manager together with Argonaut Securities to the proposed Options Exercise Underwrite for Atrum Coal Limited (ASX.ATU).

Atrum has approximately 103.1 million listed options on issue exercisable at $0.20 each on or before 5.00pm, 31 March 2021.

The Joint Lead Managers are underwriting the issue of approximately 99.1 million fully paid ordinary shares upon the exercise of the options at an issue price of $0.20 per new share, to raise approximately $19.8 million.

The offer price of $0.20 represents a 31.0% discount to last close of $0.2900, a 32.6% discount to 5-day VWAP of $0.2969 and a 34.9% discount to 10-day VWAP of $0.3071.

Atrum will utilise the proceeds of the offer towards in-fill resource drilling, hydrogeological and geotechnical drilling, PFS and DFS studies, environmental baseline studies, permitting workstreams and general working capital.

Offer jurisdictions are here outlined: Australia, Canada (British Columbia, Ontario provinces), European Economic Area (France, Germany, Luxembourg), Hong Kong, New Zealand, Switzerland, Singapore and the United Kingdom.

For more information please contact your Shaw and Partners adviser.