Ann: Trading Halt, page-168

August 2023
***** at Rule Symposium Florida : From Paul at *****"......now you recently got a US$15mill investment from Osisko Gold royalties and you stock has pretty much been on a tear ever since....so it seems like the value of that goes way beyond just the financial!"

CE: "Yeah, it wasn't really about just the US$15million as you said Paul, so sought of...some people are very astitute in what they've seen in what Hot Chilli do and it's a lot about what 'Nicki Ad' said about our....our Chairman has been talking here about for the past year and it's bringing the optionality that our project has to bear in terms of our financing and therefor Managing...very prudentaly...the dilution to our share holders going forward. A lot of these big projects can be a trap...and a dilution cycle, all the way through to financing decision and then another isgnificant dilution event waiting....waiting for our share holders then, so, so, so ahm, planning out how you are going to be able to finance soemthing, then navigating the last of your financing requirements to project financing is extremely important.... and so the Osisko transaction has allowed us to put the assett value to work rather than the market capitalization of Hot Chili. If we had have rasied that money we would have issued about 20% of the campany's....ahhhh, of the company in dilution for our share holders and what this represents is 1.1% for US$15 million with no guarnatee it will be in prdocution at any set date from the Osisko so a very much risk transaction...from Osisko, but it values the project at US$1.38billion........."

".....it leverages to value of the equation there and it removes the overhang of a raising, any time in future and therefor providing 12-18mths of funding"