IperionX Completes US$16.7M Placement to Re-shore U.S. Titanium Production

IperionX Limited (IperionX) (NASDAQ: IPX, ASX: IPX) is pleased to announce that it has completed a placement to existing institutional investors to raise gross proceeds of approximately US$16.7 million before costs (“Placement”).

The Placement was led by existing shareholders, B Riley Principal Investments, Fidelity International, Inherent Group, and one of the world’s largest asset managers, confirming their support for IperionX’s plans to re-shore U.S. titanium production, scale IperionX’s patented titanium technologies, advance the Titan Critical Mineral Project and for general corporate purposes.

IperionX’s technology and patent portfolio advisor, Mr. Ray Nimrod, participated in the placement, and is a significant long-term shareholder and advisor to the Company. Ray is a renowned expert in technology patent law, representing a range of leading technology clients, including multiple Fortune 100 companies.

IperionX has significantly bolstered its capital position with up to US$40.9 million in new funding, made up of:

• US$12.7 million grant from U.S. Department of Defense
  

• US$16.7 million from the equity Placement
  

• Potential for US$11.5 million in equipment financing from the Export-Import Bank of the United States ("EXIM Bank") ‘China and Transformational Exports Program’ and ‘Make More in America Initiative’

This robust financial position provides a strong platform for IperionX to accelerate plans to re-shore U.S. titanium production with the development of the advanced Titanium Production Facility in Halifax County, Virginia.

 

About IperionX

IperionX aims to become a leading American titanium metal and critical materials company – using patented metal technologies to produce high performance titanium alloys, from titanium minerals or scrap titanium, at lower energy, cost and carbon emissions.

Our Titan critical minerals project is believed to be the largest mineral resource of titanium, rare earth and zircon minerals sands in the United States.

IperionX’s titanium metal and critical minerals are essential for advanced U.S. industries including space, aerospace, defense, consumer electronics, hydrogen, electric vehicles and additive manufacturing.

Forward Looking Statements

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may,” “will,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “continue,” and “guidance,” or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.