The Company is undertaking an equity raising of approximately...

The Company is undertaking an equity raising of approximately A$20.2 million comprising a charity flow-through placement (“Flow-Through”) of ~C$12.0 million (~A$13.2 million) (before costs) and an institutional placement (“Institutional Placement”) of A$7.0 million (together, the “Offer”). The Company reserves the right to accept oversubscriptions utilising its available placement capacity under ASX Listing Rule 7.1 under the Institutional Placement.· The Flow-Through will be executed as follows Firstly, a charity “flow-through” placement of approximately 10.3 million shares to Canadian investors at an issue price of ~C$1.160 (~A$1.275) per New Share will be arranged by the Company to raise ~C$12.0 million (~A$13.2 million) (before costs), representing a 50% premium to the Offer price as defined below.o Subsequently, following settlement with Canadian investors in the Flow-Through and those investors obtaining tax benefits permitted under Canadian tax law, Canaccord will facilitate the sale of the New Shares to institutional, sophisticated, and professional investors in Australia and certain other countries at an offer price of A$0.85 per New Share (“Offer Price”) to be conducted via an on-market block trade for ~A$8.8 million.o For more information on flow-through transactions, please visit: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/flow-through-shares-ftss/investors/flow-through-share-program-works.html· Concurrently with the Flow-Through Placement, the Company will conduct an Institutional Placement at the Offer Price to raise ~A$7.0 million (before costs) via the issue of 8.2 million New Shares.