Alvo Minerals Limited announced a private placement of 20,300,000 common shares at a price of AUD 0.25 per share for the gross proceeds of AUD 5,075,000 on June 14, 2023. The Placement wasstrongly supported by a number of high quality new and existing, domestic and international
institutional investors and Alvo's Directors. Settlement of tranche 1 is expected to be completed on June 20, 2023 and tranche 2 is expected to be completed on or around late July 2023 and subject to prior Shareholder Approval at a General Meeting to be scheduled for on or around late July 2023.