• ChemX Materials Ltd is offering a Share Purchase Plan (SPP) to eligible shareholders.
• The SPP follows a successful placement of shares to sophisticated investors, raising $1,118,000.
• The company aims to raise a maximum of $500,000 through the SPP.
• Shares are offered at $0.048 per share, which is an 11.76% discount to the VWAP of $0.0544.
• Eligible shareholders can apply for up to $30,000 worth of shares, with a minimum of $2,000.
• Subject to shareholder approval, participants may also receive options exercisable at $0.09 each.
• The funds raised will be used for the completion of the High Purity Alumina (HPA) Pilot Plant, working capital, and offer costs.
• The SPP is available to shareholders registered as of March 22, 2024, with addresses in Australia or New Zealand.
• Applications must be received by April 23, 2024.
• The company reserves the right to accept oversubscriptions or scale back applications.

Score: 6

Explanation: The sentiment is neutral to slightly positive. The SPP offers an opportunity for shareholders, but the company's need for further funding and the speculative nature of the shares temper the enthusiasm.

• ChemX Materials is offering a Share Purchase Plan (SPP) to raise up to $500,000.
• The offer price is $0.048 per share, representing an 11.76% discount to the VWAP.
• Eligible shareholders can invest between $2,000 and $30,000.
• Funds will be used for the HPA Pilot Plant, working capital, and offer costs.
• A placement raised $1,118,000 prior to the SPP.
• Shareholders may receive options, subject to shareholder approval, exercisable at $0.09 each.
• The maximum number of shares to be issued under the plan will be 28,602,952, excluding shares issued under the placement.

• Eligible shareholders have the opportunity to purchase shares at a discounted price of $0.048.
• Shareholders may receive options, subject to shareholder approval.
• The funds raised will be used to advance the HPA Pilot Plant and for working capital.
• The SPP allows shareholders to increase their investment in the company without incurring brokerage fees.

• Shareholder approval is required for the issuance of options, and there is no guarantee it will be obtained.
• The company may scale back applications if oversubscribed.
• The shares offered under the plan should be considered as speculative.

• The market price of shares may fluctuate between the offer date and the issue date.
• The company may need to raise further funding in the future, which could dilute shareholdings.
• If the company cannot secure additional funding, it may need to reduce the scope of its operations.
• The directors believe that upon the successful completion of the Offer and Placement, the Company will have sufficient funds to adequately meet the Company's short term technology development and exploration commitments, and short term working capital requirements, however, it is highly likely that further funding will be required to meet the medium to long term working capital costs of the Company.

The company intends to use the funds raised from the Placement and SPP to complete the HPA Pilot Plant, for working capital, and to cover the costs of the offer; however, it is highly likely that further funding will be required to meet the medium to long term working capital costs of the Company.

• The Board reserves the right to alter the way funds are applied based on intervening events and new circumstances.
• The Directors believe that upon the successful completion of the Offer and Placement, the Company will have sufficient funds to adequately meet the Company's short term technology development and exploration commitments, and short term working capital requirements.

ChemX Materials is operating in the high purity alumina (HPA) sector, which is driven by the increasing demand for HPA in applications such as lithium-ion batteries, LED lighting, and semiconductors; raising capital to complete a pilot plant is a common step for companies in this sector to demonstrate the viability of their production process and attract further investment.

• The 11.76% discount offered in the SPP is within the typical range for such offers, which usually range from 5% to 15% depending on market conditions and the company's financial position.
• Other companies in the materials sector, such as Altech Chemicals and Alpha HPA, have also undertaken capital raisings to fund pilot plants and feasibility studies.
• The targeted $500,000 raise is relatively small, suggesting the company is primarily relying on the placement proceeds for its immediate funding needs.

• Shareholders have the opportunity to increase their holdings at a discount.
• Employees may benefit from the company's improved financial position and progress on the HPA Pilot Plant.
• Customers may see improved product development and availability as the company progresses its projects.
• Suppliers may benefit from increased business as the company expands its operations.
• Creditors may view the company more favorably due to the increased capital.

• Eligible shareholders need to apply for shares by the closing date of April 23, 2024.
• Shareholders will vote on the issuance of options at the EGM on May 10, 2024.
• The company will issue shares under the SPP on April 30, 2024.
• The company will issue options under the Placement and SPP on May 14, 2024.

• 22 March 2024: Record Date for SPP
• 25 March 2024: Announcement of Placement and SPP
• 3 April 2024: Lodgement of SPP cleansing notice and despatch of SPP Offer Booklet
• 3 April 2024: Opening Date of SPP
• 3 April 2024: Issue of Shares under Placement and lodgement of Appendix 2A and cleansing notice
• 10 April 2024: Despatch of Notice of Meeting
• Mid to late April 2024: Lodgement and despatch of Options Prospectus
• 23 April 2024: Closing Date of SPP
• 29 April 2024: Announcement of Results of SPP
• 30 April 2024: Issue of Shares under SPP and lodge Appendix 2A
• 10 May 2024: EGM
• 14 May 2024: Issue of Options under Placement and SPP