Mandrake Resources : Proposed issue of securities - MAN

Proposed issue of securities

Announcement Summary

For personal use only

Entity name

MANDRAKE RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

25/3/2022

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	30,000,000
confirmed
MAN	ORDINARY FULLY PAID	80,000,000

Proposed +issue date

24/6/2022

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

MANDRAKE 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
ABN	60006569124
1.3	ASX issuer code
MAN

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

25/3/2022

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

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Proposed issue of 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
		Other (please specify in	24/6/2022		actual?	received/condition met?
			Estimated
		comment section)
		Comments
		The issue of 80,000,000 fully paid ordinary shares and 30,000,000 performance rights subject to successful completion of
personal	a 12-week due diligence period and regulatory approvals.
	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)?
		Existing class
	Details of +securities proposed to be issued
For

ASX +security code and description

MAN : ORDINARY FULLY PAID

Number of +securities proposed to be issued 80,000,000

Offer price details

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

No

Proposed issue of securities

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Proposed issue of securities

use only

Please describe the consideration being provided for the +securities

Purchase price subject to successful due diligence

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

3,200,000.000000

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		Performance rights
	+Security type
	Performance options/rights
	Number of +securities proposed to be issued
For	30,000,000
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

Nil - Subject to achieving hurdles

Proposed issue of securities

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Proposed issue of securities

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

1,200,000.000000

		Will all the +securities issued in this class rank equally in all respects from
only	their issue date?
Yes
	Performance options/rights details
		+Security currency	Exercise price	Expiry date
use	AUD - Australian Dollar	AUD 0.0000	25/6/2025
Details of the type of +security that will be issued if the option is exercised
		MAN : ORDINARY FULLY PAID
		Number of securities that will be issued if the option is exercised
		30000000
personal
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.

Part 7C - Timetable

7C.1 Proposed +issue date 24/6/2022

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? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

64200000

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's

Proposed issue of securities

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