Megado Gold : Proposed issue of securities - MEG

Proposed issue of securitiesAnnouncement Summary

Entity name

For personal use only

MEGADO GOLD LIMITED

Announcement Type New announcement

Date of this announcement 14/4/2022

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

Proposed +issue date 20/5/2022

Refer to next page for full details of the announcementProposed issue of securities

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Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

MEGADO GOLD LIMITED

For personal use only

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 ABN

Registration Number 74632150817

1.3 ASX issuer code MEG

1.4 The announcement isNew announcement

1.5 Date of this announcement 14/4/2022

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

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Proposed issue of securitiesPart 7 - Details of proposed placement or other issue

For personal use 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

7A.1a Conditions

Approval/Condition +Security holder approval

Date for determination 20/5/2022

Is the date estimated or actual?

Estimated

** Approval received/condition met?

Comments

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?

Existing class

Details of +securities proposed to be issued

ASX +security code and description

MEG : ORDINARY FULLY PAID

Will the proposed issue of this +security include an offer of attaching +securities?

No

Number of +securities proposed to be issued

32,000,000

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

Proposed issue of securities

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Proposed issue of securities

Please describe the consideration being provided for the +securities

To acquire 100% of the issued share capital in Felix Strategic Minerals Pty Ltd, which holds the contractual rights to acquire 100% of the rights, title and interest in the North Fork Rare Earth Project.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 3,200,000.000000

For personal use only

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 class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?

Will the proposed issue of this +security include an offer of attaching +securities?

No

New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from Will the entity be seeking quotationASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?

of the 'new' class of +securities on ASX?

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 5,000,000

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

To acquire 100% of the issued share capital in Felix Strategic Minerals Pty Ltd, which holds the contractual rights to acquire 100% of the rights, title and interest in the North Fork Rare Earth Project.

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

Proposed issue of securities

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Proposed issue of securities

provided for the +securities 202,146.000000

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

Yes

For personal use only

Options details

+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.1500	31/12/2024

Details of the type of +security that will be issued if the option is exercised MEG : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised 1:1 basis

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.

https://www.asx.com.au/asxpdf/20220414/pdf/4580t5vv4gmkk9.pdf

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?

Will the proposed issue of this +security include an offer of attaching +securities?

No

Existing class

Details of +securities proposed to be issued

ASX +security code and description

MEG : ORDINARY FULLY PAID

Number of +securities proposed to be issued

30,000,000

Offer price details

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

Yes

Proposed issue of securities

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