Impact Minerals Limited: Major Shareholder to Increase Stake to 10%

Perth - Impact Minerals Ltd. (ASX:IPT) is pleased to announce that it has completed the placement of the remaining $0.9 million of shortfall from the Company's recent SPP (as defined below) to one of its major shareholders, who will consequently increase its relevant interest in the Company to 10%. The Company has now placed all of the shortfall from the SPP with total funds raised exceeding $2.9 million.

- Major shareholder takes Placement of final $0.9 million of Shortfall from the recent Share Purchase Plan to increase holding to 10%

- Placement completes full subscription of the SPP

- Funds to be primarily used for the ongoing drill programme and resource work at the Commonwealth gold-silver-base metals project in New South Wales

- Supplementary Prospectus attached

Impact Minerals' Managing Director, Dr Mike Jones, said "We are very pleased to have had strong support from one of our German shareholders, a Frankfurt-listed company that has progressively built its stake in Impact over the past few years. As a result we have now placed all of the shortfall from the recent Share Purchase Plan and so are very well funded to continue our on-going drill programme at the emerging Silica Hill gold-silver discovery 100 km north of Orange in New South Wales".

Background to additional placement

On 15 May 2017, Impact Minerals Ltd. (ASX:IPT) issued a prospectus seeking to raise up to $4,001,400 through the offer of 222,300,000 Shares together with 333,450,000 free attaching Quoted Options by way of a Share Purchase Plan to existing Shareholders, and a Shortfall Offer to the general public (together the SPP).

The Company raised $1,073,971 under the SPP through the issue of 59,665,051 Shares and 89,497,590 free attaching Quoted Options, which was approved by Shareholders at a general meeting of the Company on 20 June 2017.

As announced to ASX on 31 August 2017, the Company received firm commitments from sophisticated and professional investors to raise $2,000,000 by the issue of a portion of the shortfall from the recent SPP, being 111,111,111 Shares and 166,666,667 free attaching Quoted Options (Placement).

The Company is now pleased to announce that it has received a firm commitment covering the total of the remaining shortfall from the SPP. The aggregate amount raised is $2,927,429, comprising the issue of 162,634,949 Shares and 243,952,410 free attaching Quoted Options.

The Shares and free attaching Quoted Options will be issued on the same terms and conditions as those under the SPP, being $0.018 for each Share, with three free attaching Quoted Options exercisable at $0.04 on or before 15 June 2020 for every two New Shares subscribed for.

The Company lodged a prospectus (Prospectus) with the Australian Securities and Investment Commission (ASIC) for the Placement on 31 August 2017. The attached Supplementary Prospectus has been lodged with ASIC today in order to amend the Prospectus to address the placement of the remaining shortfall from the SPP.

The Prospectus and Supplementary Prospectus have been lodged with ASIC for the purposes of section 708A(11) of the Corporations Act to remove any trading restrictions on the Shares and free attaching Quoted Options issued.

To view Supplementary Prospectus, please visit:
http://abnnewswire.net/lnk/ZG16EN39

About Impact Minerals Limited:

Impact Minerals Ltd. (ASX:IPT) is an exploration company listed on the ASX in November 2006. The Company manages extensive tenement holdings (>2,000 km2) within Australia featuring significant potential for high-grade mineral deposits of gold, silver, lead, zinc, copper, nickel and PGM's. The Directors of the Company have extensive experience in mineral exploration and a strong history of exploration success, business development and corporate management. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations.



Contact:

Dr Michael G Jones Managing Director
Impact Minerals Ltd.
T: +61-8-6454-6666
E: info@impactminerals.com.au