Proposed issue of securities

Announcement Summary

For personal use only

Entity name

MINREX RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

18/1/2022

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

Maximum Number of

ASX +security code

+Security description

+securities to be issued

New class-code to be

Performance Rights

16,000,000

confirmed

MRR

ORDINARY FULLY PAID

8,529,376

Proposed +issue date

16/2/2022

Refer to next page for full details of the announcement

Proposed issue of securities

1 / 7

Proposed issue of securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of +Entity

MINREX 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

151185867

1.3

ASX issuer code

MRR

  1. The announcement is New announcement
  2. Date of this announcement

18/1/2022

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

2 / 7

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

16/2/2022

actual?

received/condition met?

Actual

Yes

Comments

Performance Rights to Directors and CEO as incentive-based remuneration in connection with such roles. Shares in lieu

personal

of Consulting Fees. Introducer Shares for introduction of Abeh and Odette Acquisitions

Part 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)?

New class

Details of +securities proposed to be issued

For

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

Yes

ASX +security code

+Security description

New class-code to be confirmed

Performance Rights

Proposed issue of securities

3 / 7

Proposed issue of securities

+Security type

Performance options/rights

Number of +securities proposed to be issued 16,000,000

only

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

Nil - incentive based remuneration in connection with each role

use

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

provided for the +securities

550,000.000000

Will all the +securities issued in this class rank equally in all respects from

their issue date?

personal

Yes

proposed to be issued or provide the information by separate announcement.

Performance options/rights details

+Security currency

Exercise price

Expiry date

AUD - Australian Dollar

AUD 0.0000

Details of the type of +security that will be issued if the option is exercised

MRR : ORDINARY FULLY PAID

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

16,000,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities

For

https://www.asx.com.au/asxpdf/20220118/pdf/4552w4y3dvgjfv.pdf

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

Proposed issue of securities

4 / 7

Proposed issue of securities

Details of +securities proposed to be issued

ASX +security code and description

MRR : ORDINARY FULLY PAID

only

Number of +securities proposed to be issued

2,671,876

Offer price details

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

consideration?

use

No

Please describe the consideration being provided for the +securities

In lieu of Consulting fees to related parties. The number of Shares to be issued to Directors was calculated using the

same price of the Placement, being $0.032

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

85,500.000000

personal

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)?

Existing class

Details of +securities proposed to be issued

For

ASX +security code and description

MRR : ORDINARY FULLY PAID

Number of +securities proposed to be issued

5,857,500

Offer price details

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

consideration?

No

Proposed issue of securities

5 / 7

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MinRex Resources Ltd. published this content on 18 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2022 05:54:07 UTC.