Not for release to US wire services or distribution in the United States

TORONTO, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) advises that on 8 November 2024, it issued 100,000,004 fully paid ordinary shares at a price of $0.055 per share, to a range of sophisticated investors under an Equity Placement led by Bell Potter Securities Limited and Ord Minnett Limited (New Shares).

Xanadu Mines advises that:

(a) the New Shares were issued without disclosure under Part 6D.2 of the Act;

(b) this notice is being given under section 708A(5)(e) of the Act;

(c) as at the date of this notice, Xanadu Mines has complied with:

(1) the provisions of Chapter 2M of the Act as they apply to Xanadu Mines; and

(2) sections 674 and 674A of the Act as they apply to Xanadu Mines; and

(d) as at the date of this notice, there is no excluded information of the type referred to in sections 708A(7) or 708A(8) of the Act that is required to be set out in this notice.

TSX Matters

The Company intends to rely on the exemption in section 602.1 of the TSX Company Manual in respect of the Placement as an Eligible Interlisted Issuer.

This Announcement was authorised for release by Xanadu’s Board of Directors.

All dollar amounts are in Australian dollars unless otherwise indicated.

Not an offer in the United States
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.