Brightstar Resources : Update - Proposed issue of securities - BTR

Proposed issue of securities

Update Summary

For personal use only

Entity name

BRIGHTSTAR RESOURCES LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

30/11/2021

Reason for update to a previous announcement

1. Shareholders approval for the proposed issue of securities are obtained.
2. Restrictions on the securities are amended to Voluntary Escrow, according to Resolution 10 which was passed at 2021 AGM.

Refer to next page for full details of the announcement

Proposed issue of securities

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Proposed issue of securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of +Entity

BRIGHTSTAR RESOURCES LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2	Registered Number Type	Registration Number
ACN	100727491
1.3	ASX issuer code
BTR

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

1. Shareholders approval for the proposed issue of securities are obtained.
2. Restrictions on the securities are amended to Voluntary Escrow, according to Resolution 10 which was passed at 2021 AGM.

1.4b Date of previous announcement to this update

25/10/2021

1.5 Date of this announcement

30/11/2021

1.6 The Proposed issue is:

A placement or other type of issue

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Proposed issue of securities

Part 7 - Details of proposed placement or other issue

only
	Part 7A - Conditions
		7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other
		type of issue can proceed on an unconditional basis?
		Yes
use	7A.1a Conditions
Approval/Condition	Date for determination	Is the date estimated or	** Approval
		+Security holder approval	29/11/2021	actual?	received/condition met?
		Actual
						Yes
		Comments
		Shareholders' approval for the proposed issue of securities have been obtained.
personal
	P rt 7B - Issue details
		Is the proposed security a 'New	Will the proposed issue of this
		class' (+securities in a class that is	+security include an offer of
		not yet quoted or recorded by ASX)	attaching +securities?
		or an 'Existing class' (additional	No
		securities in a class that is already
		quoted or recorded by ASX)?
		Existing class
	Details of +securities proposed to be issued
For	ASX +security code and description
BTR : ORDINARY FULLY PAID

Number of +securities proposed to be issued 15,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

No

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use only

Proposed issue of securities

Please describe the consideration being provided for the +securities

The securities are issued as part consideration for the acquisition of two exploration licence tenements in Western Australia

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

Yes

Is the proposed security a 'New	Will the proposed issue of this
class' (+securities in a class that is	+security include an offer of
not yet quoted or recorded by ASX)	attaching +securities?
or an 'Existing class' (additional	No
securities in a class that is already
quoted or recorded by ASX)?
New class

Details of +securities proposed to be issued
personal	ISIN Code (if Issuer is a foreign company and +securities are non CDIs)
	Have you received confirmation from		Will the entity be seeking quotation
	ASX that the terms of the proposed		of the 'new' class of +securities on
	+securities are appropriate and		ASX?
	equitable under listing rule 6.1?		No
	No
	ASX +security code		+Security description
	New class-code to be confirmed		Unlisted Options
	+Security type
	Options
	Number of +securities proposed to be issued
For	20,000,000
Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

The securities are issued as part consideration for the acquisition of two exploration licence tenements in Western Australia

Please provide an estimate of the AUD equivalent of the consideration being

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Proposed issue of securities

provided for the +securities

Will all the +securities issued in this class rank equally in all respects from their issue date?

			Yes
	Options details
only		+Security currency	Exercise price	Expiry date
	AUD - Australian Dollar	AUD 0.0500	31/12/2024
use		Details of the type of +security that will be issued if the option is exercised
			BTR : ORDINARY FULLY PAID
			Number of securities that will be issued if the option is exercised
			One ordinary fully paid share per option
			Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
			proposed to be issued or provide the information by separate announcement.
personal
	Part 7C - Timetable
		7C.1 Proposed +issue date
		1/12/2021
	Part 7D - Listing Rule requirements
For

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 29/11/2021

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules?

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