A$4.2M Placement at a Premium to Strategic Brazilian Group

Alvo Minerals Limited (ASX: ALV) (“Alvo” or “the Company”) is pleased to announce that it has completed a strategic placement with prominent Brazilian private equity group Ore Investments Ltda.(“Ore Investments”), whereby Ore Investments will acquire 23,314,286 fully paid ordinary shares in Alvo (“New Shares”) at an issue price of $0.1750 per New Share (“Placement Price”) and existing substantial shareholder Strata Investments Holdings Plc to acquire 714,286 New Shares on the same terms, collectively raising a total of A$4.2M (“Strategic Placement”).