Not an offer of securities.
This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or any other jurisdiction. The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act and applicable US state securities laws.
SYDNEY, July 22, 2026 (GLOBE NEWSWIRE) -- Brazilian Rare Earths Limited (ASX: BRE / OTCQX: BRELY) ('BRE') announces that its subsidiary Alurion Resources Limited, an Australian company (Alurion), has accepted applications for 47,619,048 new fully paid ordinary shares at an offer price of A$1.05 per share, representing gross proceeds of approximately A$50 million, under its Australian initial public offering (Australian IPO Offer) and to be listed on the Australian Securities Exchange.
Proceeds from the Australian IPO Offer will be used to fund the continued development of Alurion's Amargosa Bauxite-Gallium Project.
The outcome follows approval of the demerger of the Amargosa Bauxite-Gallium Project into Alurion by BRE shareholders, with 99.94% of votes cast in favour at the General Meeting held on 10 July 2026.
Admission of Alurion to the Official List of the ASX is expected on 30 July 2026, with trading on a normal settlement basis expected to commence on 3 August 2026 under the ASX code "ALU", subject to ASX approval and satisfaction of admission conditions.
Contacts
Bernardo Da Veiga, Managing Director and CEO
investors@brazilianrareearths.com
www.brazilianrareearths.com
