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Falcon Metals Limited

Falcon Metals Limited

Demerger Summary - Falcon Metals Ltd 

Chalice has now received Shareholder approval for the demerger of its gold exploration projects in Victoria and Western Australia (together, the Spin-Out Projects) to a new ASX listed gold exploration company, Falcon Metals (ASX: FAL).

The demerger will allow Chalice to focus on its world-class Julimar Ni-Cu-PGE Project and the new West Yilgarn Ni-Cu-PGE Province in Western Australia, where exploration and evaluation activities are rapidly accelerating.

Chalice will transfer the Spin-Out Projects to Falcon Metals and distribute the Falcon Metals shares held by Chalice to eligible Chalice Shareholders by way of a pro rata in-specie distribution, on the basis of 1 Falcon Metals share for approximately every 3.017 Chalice Shares held on the In-specie Record Date of 9 December 2021. Chalice shareholders will also retain their existing Chalice shares.

In connection with the demerger, Falcon Metals intends to undertake an initial public offering (IPO) of Falcon Metals shares and lodge a prospectus under section 710 of the Corporations Act for the issue of a minimum of 30,000,000 and a maximum of 60,000,000 Falcon Metals Shares at a price of $0.50 per Falcon Metals Share to raise a minimum of $15,000,000 and a maximum of $30,000,000 (before costs) (IPO). It is intended that the IPO will comprise:

(a) a priority pro rata rights offer to eligible Chalice shareholders (Priority Offer); and

(b) an offer of any shortfall from the Priority Offer to eligible Chalice shareholders and the general public (Shortfall Offer).

The in-specie distribution of Falcon Metal shares and the issue of Falcon Metal shares under the IPO will be completed on 15 December 2021. Please view the Prospectus for the complete timetable. 

If you have any questions regarding the Falcon Metals Demerger, please contact the Shareholder Information line on 1300 396 564 (callers within Australia) or +61 3 9415 4087 (callers outside Australia) Monday to Friday 8:30 am to 5:30 pm (Melbourne time).

Falcon Metals Investor Webinar

Chalice recently hosted a live shareholder and investor webinar providing further detail on the mechanism and timetable for the demerger, an introduction to Falcon metals and a live Q&A session. 

  • Click here to watch the webinar replay 
 

For more information on Falcon Metals, please visit www.falconmetals.com.au, or go direct to a copy of the following documents: