3D Metalforge Limited announced that it will issue 190,909,090 ordinary shares of the new class at a price of AUD 0.011 for gross proceeds of AUD 2,099,999.99 on September 23, 2022. The transaction will include participation from new and existing sophisticated and professional investors and other exempt investors and shareholders introduced by existing contacts and advisors of the company, including Chief Executive Office and Chairman Mr Waterhouse. The company will also issue 190,909,090 options for every share subscribed for, exercisable at AUD 0.02 each on expiry date three years from the date of issuance.

The company will issue shares under two tranches, for initial tranche of 31,363,636 shares and balance of 159,545,454 shares under second tranche. The issuance related to second tranche is subject to shareholder approval. The company has the right to issue 48,000,000 unlisted options with an exercise price of AUD 0.02, expiring three years from the date of issuance to advisers and brokers in the transaction.