ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE  |  April 7, 2017  |  ASX:WCP

170407_wcp_placement_to_raise_a_5_million-1.pdf

THIS ASX ANNOUNCEMENT IS NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

WCP Resources Limited (“WCP” or “Company”) (ASX: WCP) is pleased to announce that it has successfully completed a bookbuild for a placement of 56 million shares at an issue price of A$0.09 per share to institutional and sophisticated investors predominately based in the United States to raise gross proceeds of A$5 million (“Placement”).

Proceeds from the Placement will be used to accelerate the Company’s planned exploration and development activities at its Piedmont Lithium Project (“Project”) located in the Carolina Lithium Belt in the United States, including completion of additional drilling, completion of a maiden lithium resource estimate, and commencement of technical studies for the Project.

The Company expects to complete the Placement next week and will issue the Placement shares under Listing Rules 7.1 and 7.1A. The issue price of A$0.09 represents a 10% discount to the last closing price of WCP shares on the ASX.

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