Orocobre Successfully Completes Entitlement Offer

BRISBANE, Australia, Feb. 7, 2018 /CNW/ -- Orocobre Limited (ASX: ORE, TSX: ORL) ("Orocobre" or "the Company") is pleased to announce the successful completion of its approximately A$79 million fully underwritten 1 for 20 accelerated pro rata renounceable entitlement offer with retail entitlements trading on the ASX ("Entitlement Offer") that was announced on 16 January 2018. The retail component of the Entitlement Offer ("Retail Entitlement Offer") raised gross proceeds of approximately A$45 million, and represents the final stage of the Entitlement Offer.

Approximately 2.9 million retail entitlements were offered for sale through a bookbuild process that opened aftermarket on 7 February 2018 ("Retail Shortfall Bookbuild").

The Retail Shortfall Bookbuild did not price above the offer price of A$6.55 per share and as a result there will be no proceeds available for distribution. The shares offered under the Retail Shortfall Bookbuild will be issued to those investors who bid into the Retail Shortfall Bookbuild and sub-underwriters of the Retail Entitlement Offer, the majority of which are existing shareholders of Orocobre.

The settlement date for New Shares that will be issued under the Retail Shortfall Bookbuild is 12 February 2018. New Shares are expected to be issued on 13 February 2018 and to commence trading on 14 February 2018.

FOR FURTHER INFORMATION PLEASE CONTACT
Andrew Barber
Investor Relations Manager
Orocobre Limited
T: +61 7 3871 3985
E: abarber@orocobre.com

About Orocobre Limited
Orocobre Limited (Orocobre) is a dynamic global lithium carbonate supplier and an established producer of boron. Orocobre is dual listed on the Australia and Toronto Stock Exchanges (ASX: ORE, TSX: ORL). Orocobre's operations include its Olaroz Lithium Facility in Northern Argentina, Borax Argentina, an established Argentine boron minerals and refined chemicals producer and a 33% interest in Advantage Lithium.

For further information, please visit www.orocobre.com 

Restriction on distribution of this announcement

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws.

SOURCE Orocobre Limited

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