Errawarra Resources : Proposed issue of securities - ERW

Proposed issue of securities

Announcement Summary

For personal use only

Entity name

ERRAWARRA RESOURCES LTD

Announcement Type

New announcement

Date of this announcement

23/11/2021

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	ORDINARY FULLY PAID RESTRICTED	15,000,000
confirmed
New class-code to be	OPTION EXPIRING 3 YEARS FROM ISSUE RESTRICTED	7,500,000
confirmed

Proposed +issue date

28/2/2022

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

ERRAWARRA RESOURCES LTD

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
ABN	95155472834
1.3	ASX issuer code
ERW

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

23/11/2021

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

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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	28/2/2022		actual?	received/condition met?
			Estimated
		Comments
		Given the related party nature of the proposed acquisition and potential impacts to voting power, shareholder approvals
personal	will be sought by mid February 2022 pursuant to ASX Listing Rule 10.1 and Item 7, Section 611 of the Corporations Act.
The general meeting date is indicative only. An Independent Expert's Report on the acquisition will be provided to
shareholders along with the notice of meeting. Refer to ASX announcement dated 23 November 2021 for further
		information.
	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

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Proposed issue of securities

	ASX +security code	+Security description
	New class-code to be confirmed		ORDINARY FULLY PAID RESTRICTED
	+Security type
	Ordinary fully or partly paid
only	shares/units
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
use	Please describe the consideration being provided for the +securities
Upon receipt of shareholders' approval and on completion of the acquisition issue 15,000,000 shares to Western
Exploration (or his nominees) at a deemed issue price of $0.20 per share. The shares will be restricted for 12 months from
the date of issue. Refer to ASX announcement dated 23 November 2021 for further information.
Please provide an estimate of the AUD equivalent of the consideration being
personal	provided for the +securities
No
	3,000,000.000000
	Will all the +securities issued in this class rank equally in all respects from
	their issue date?
	Yes
Ordinary fully or partly paid shares/units details
	+Security currency
	AUD - Australian Dollar
	Will there be CDIs issued over the
	+securities?
For	Is it a partly paid class of +security?
No
	Is it a stapled +security?
	No
	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.errawarra.com/reports/121085-ERW_211123_ASX_Annc_Andover_Acquisition_19_11_21_2802248_8_pdf.p
	df

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Proposed issue of securities

	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
only	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
use
+securities are appropriate and		ASX?
equitable under listing rule 6.1?		No
Yes
ASX +security code		+Security description
New class-code to be confirmed		OPTION EXPIRING 3 YEARS FROM ISSUE RESTRICTED
+Security type
Options
personal
Number of +securities proposed to be issued
7,500,000
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
Upon receipt of shareholders' approval and on completion of the acquisition issue 7,500,000 options to Western
Exploration (or his nominees) exercisable at $0.30 each on or before the date that is 3 years from the date of issue. The
options will be restricted for 12 months from the date of issue. Refer to ASX announcement dated 23 November 2021 for
further information.
Please provide an estimate of the AUD equivalent of the consideration being
For	provided for the +securities
Will all the +securities issued in this class rank equally in all respects from
their issue date?
Yes

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