Argosy Minerals Limited (ASX: AGY), an Australian mineral exploration and development company focused on advancing its lithium projects, has announced a Share Purchase Plan (SPP) offer to eligible shareholders. The company aims to raise up to $0.5 million before costs through the SPP, alongside a recently completed $3.0 million institutional placement. Funds generated from both initiatives are earmarked for continuing feasibility and engineering works/studies for its Rincon Project, further development activities, and general working capital purposes.
Under the SPP, eligible shareholders will have the opportunity to subscribe for up to $30,000 worth of new fully paid ordinary shares without incurring brokerage or transaction costs. The issue price for these new shares is set at $0.036 per share. This price represents a 16.3% discount to Argosy’s closing share price on Friday, 28 August 2026, and a 19.3% discount to the volume weighted average price over the five trading days prior to the SPP announcement.
A key feature of the offer is the entitlement to one free attaching unlisted option for every two SPP shares subscribed for and issued. These SPP Options will be exercisable at $0.054 each and are set to expire on 29 September 2028. The SPP offer officially opened on Tuesday, 8 September 2026, and is scheduled to close at 5:00 PM (AWST) on Tuesday, 22 September 2026.
Eligible shareholders must have been registered as holders of shares at 5:00 PM (AWST) on Tuesday, 1 September 2026, with a registered address in Australia or New Zealand. The company reserves the right to accept oversubscriptions or scale back applications at its discretion. SPP shares and options are expected to be issued on Tuesday, 29 September 2026, with trading of SPP shares commencing the following day.
