Completion of Bookbuild for Non-Brokered A$2 Million Placement

Many Peaks Minerals Limited (Many Peaks or the Company) (ASX: MPK) is pleased to advise that the Company has received firm commitments for a non-brokered two-tranche placement of 11,764,706 new fully paid ordinary shares (New Shares) at a price of A$0.17 per New Share to raise A$2 million before costs (Placement).

The Placement includes, subject to shareholder approval, 1 free attaching option exercisable at A$0.25 and expiring 30 June 2026 for each 3 New Shares issued under the Placement.

The Placement price represented a 17.1% discount to the closing price of A$0.205 and a 19.1% discount to the Company’s 15-day VWAP through close of market on Wednesday, 26 March 2024.

The Placement was strongly supported by a combination of existing shareholders demonstrating significant on market buying support over the past year, and groups of shareholders demonstrating significant on- market buying support over the past week following Many Peaks’ acquisition of permits covering 1,275km2 in Cote d’Ivoire (refer ASX Announcement dated 26 March 2024) from Turaco Gold Limited (Turaco), triggering Turaco’s drag along right in their joint venture with Predictive Discovery Limited (Predictive) whereby Many Peaks will also acquire Predictive’s remaining 11% interest in the Turaco-Predictive joint venture entity CDI Holdings (Guernsey) Ltd (CDI Holdings).

The Company’s consolidation of 100% ownership in CDI Holdings includes rights to the Ferké and Odienné advanced stage gold exploration gold projects held via an Ivorian subsidiary party to a joint venture with Gold Ivoire Minerals SARL (GIV Joint Venture) in Cote d’Ivoire in which it has earned a 65% interest and retains an exclusive right to earn-in to an 85% interest by sole funding any project within four mineral licences in Cote d’Ivoire to feasibility study.

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