Ionic Rare Earths Limited has secured firm commitments to raise $3.0 million before costs by issuing convertible notes to sophisticated and professional investors—a move designed to boost working capital and advance projects in the United Kingdom, the United States, Brazil, and at the Makuutu Project in Uganda. The funds raised are intended to progress developments across a diverse geographic portfolio that supports the Company’s broader strategy to become a sustainable supplier of high-value magnet and heavy rare earth products critical for net zero carbon technologies. The convertible notes carry detailed terms that allow investors to convert their investment into ordinary shares. The conversion price is set at the lower of 0.9 cents per share or a 20% discount to the 15-business day volume weighted average price of shares traded prior to conversion. Should conversion occur before 22 September 2025, the effective price will be 0.9 cents per share, while all outstanding notes will automatically convert into shares on 15 June 2027 if investors do not exercise their conversion rights earlier. In place of interest, a total of 166,666,667 options will be issued to note investors, with each option exercisable at 1.1 cents and expiring on 15 December 2027. Pending shareholder approval anticipated at an extraordinary general meeting in July 2025, the Company reserves the right to elect to receive some or all of the funds as a loan until approval is secured. Should approval fail to materialize, any funds received during the interim period will be repayable with interest accruing at 7% from the date of receipt until repayment. Lead manager Ignite Equity Pty Ltd is coordinating the capital raise and will receive fees of 6% of funds raised plus GST, along with 15 million options issued on similar terms. Ionic Rare Earths Limited is positioning itself as an emerging player in the mining, refining, and recycling of sustainable rare earths. The Company’s strategy integrates proprietary technologies for the separation and recovery of rare earth elements, enhancing the extraction rates from end-of-life magnets and waste. In addition, a strategic joint venture in Brazil with a major mining partner bolsters the Company’s capacity to supply magnet and heavy rare earth products for high-demand sectors such as electric vehicles, offshore wind turbines, communications, and defense initiatives. Bullish sentiment arises from the Company’s ability to raise essential capital and its diversified project pipeline across multiple regions. Investors could view the convertible note structure and accompanying options as favorable mechanisms for future equity participation at attractive pricing levels, supporting long-term growth prospects. Conversely, bearish sentiment may surface due to dilution risks associated with the conversion terms and potential uncertainties surrounding shareholder approval. Junior investors and beginner traders should remain mindful of the inherent risks in convertible instruments and the tactical nature of early-stage mining ventures.