Ann: RHK: Compulsory Acquisition of Red Hawk Mining Shares, page-5

Fortescue just got 90% of RHK (previously Flinders) so what happens to the escrow RHK had which includes a vanadium deposit. Extraordinary at the moment

TRANSACTION TERMS
The transaction negotiated sees Viking attain 100% ownership of the Project via the acquisition
of Red Hawks subsidiary Flinders Canegrass Pty Ltd.
With the completion of Stage 2 of the FIA, the Project tenure is held across 2 entities, Viking
Critical Minerals (49%) and Flinders Canegrass Pty Ltd (51%).

Flinders Canegrass Pty Ltd is being purchased by Viking via a binding Share Sale Agreement (“SSA”entered in to with Red Hawk for the consideration of:

• $175,000 cash payment;
• 33,333,333 shares in Viking (50% held in voluntary escrow for 3 months and
50% for 6 months); and
• 15,000,000 options* exercisable at 2c with expiry 3 years from the date of issue.

*The terms and conditions of the options are included in a schedule to this announcement.
The new shares and options issued to Red Hawk will utilise the Company’s existing placement
capacity under Listing Rule 7.1 and will rank equally with existing VKA shares on issue. The
issued shares will see Red Hawk become a top 20 shareholder with 3.15% of the increased
capital in the Company.

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