Ardiden Minerals Limited ("ADV" or "the Company") (ASX:ADV) (Ardiden, Company) is pleased to announce that it has entered into a binding agreement with Long State Investments Limited (LSI), to provide the Company a fully flexible funding facility for up to A$15 million, over the next two years (LSI Facility).


- Equity Placement Facility provides Ardiden ready access to $15M, as required

- Funding security supports the rapid advancement of the Seymour Lake Lithium Project

- Ardiden now has the ability to exercise the BOT Term Sheet with Yantai and move towards production

Ardiden has full discretion to access the LSI Facility, as well as set the share issue price, determine the amount of funds raised through placement tranches and when the placement of shares will occur.

The LSI Facility can be utilised by Ardiden at any time during the 2-year term or terminated early without penalty, with no restrictions or penalties imposed upon the Company if it raises additional capital through other means. Ardiden has full discretion to use as much or as little of the facility at such time the Company chooses.

Ardiden has obtained the LSI Facility to provide the Company certainty and security in being able to fund its current and future activities. The LSI Facility offers Ardiden a flexible funding solution that is intended to be used in conjunction with the more traditional methods of raising capital in the open capital markets.

Ardiden's CEO Brad Boyle said: "Obtaining the LSI Facility is a great outcome for the Company, as, irrespective of the current market conditions, the Company now has secured the funding to continue with the rapid development of the Seymour Lake Lithium project and focus on advancing discussions with potential offtake partners, completing the Environmental Study and completing the Feasibility activities."

"Ardiden is very pleased to be working closely with LSI, and with their strong support, we will be able to move closer to becoming a future Lithium producer. Our direct access to mature transportation infrastructure and the exceptionally high quality of spodumene at Seymour Lake, are real points of differentiation for us."

"Ardiden is an outstanding investment opportunity for us," said Philip Ho, Managing Director at LSI. "The Company's Seymour Lake Lithium project hosts multiple high-quality pegmatite structures which express at surface over considerable distances. The quality of spodumene contained in those pegmatites has been shown to be quite remarkable and explains the interest Ardiden is receiving from both the American and Asian lithium markets. We are eager to assist Ardiden in meeting its ongoing financing needs and we look forward to a long-term relationship with the Company."

LSI is a Hong Kong based investment group with a strategic focus on energy, mining and other growth-oriented sectors. LSI's management has over 50 years of collective experience as a group and completed over 100 investments and financings worldwide.

Material terms of the LSI Facility are set out below.

Under the terms of the LSI Facility, Ardiden, may, at its discretion, place shares to LSI at any time over the next two years up to a total of A$15 million. Ardiden may draw down up to $1,000,000 in any 10-day period. Shares issued to LSI will be priced at the average of the 2 daily VWAP of shares during the 10 consecutive trading days beginning on the trading day following the placement notice date as nominated by LSI. A commission of 5.5% will be payable by Ardiden at the time of issue.

Ardiden shall, at its option, (i) pay LSI in cash OR (ii) issue the shares in the amount equals to $75,000 and four (4) million ordinary shares as an Implementation Fee for the LSI Facility.

Further, Ardiden shall issue LSI 3-year options to purchase $2,000,000 worth of Shares at an exercise price $0.028 which is at a premium to the closing price of $0.019 on Friday, 16 February 2018 and is equal to 150% of the daily VWAP as of the date of the binding agreement with LSI.

If and when Ardiden plans to activate the LSI Facility, the Company shall pay LSI a one-time Activation Fee, in the amount equal to $75,000 and four (4) million ordinary Ardiden Shares. The Company can at its option, (i) pay LSI in cash OR (ii) issue shares, to satisfy the payment of the Activation Fee.

About Ardiden Ltd

Ardiden Limited (ASX:ADV) is an emerging international diversified exploration and development company possessing a mature multi-element asset portfolio, with a near term development pipeline, focused quality projects located in the established mining jurisdiction of Ontario, Canada.



Brad Boyle
Ardiden Ltd
Tel: +61-8-6555-2950

Michael Weir / Cameron Gilenko
Tel: +61-8-6163-4903

Link: A$15m Facility Provides Flexible Project Funding Options

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