Ann: Underwriting Agreement Signed with Ord Minnett VMCOA, page-4

Dug this ann out, this is what I expected again for VMC's loyal long term share holders but once again we've been burnt.

ASX Release: 22 December 2016 ASX Code: VMC
PROPOSED OPTION OFFER
Venus Metals Corporation Limited (ASX: VMC) (Venus) is pleased to advise that the Board
has resolved, subject to receipt of shareholder approval, to offer up to 31,449,491 listed
options exercisable at $0.20 each on or before 30 November 2019 at an issue price of $0.005
per option (New Options) on the basis of 1 New Option for every 1 listed Option which
expired on 30 November 2016 (Expired Options) to raise up to approximately $157,247
before expenses (Offer).
The Offer will be made pursuant to a prospectus. Only persons who held Expired Options on
30 November 2016 (Expired Optionholders) may apply for New Options.
The funds raised from the Offer will primarily be used for:

• general working capital; and
• the expenses of the Offer.

The funds raised from the exercise of New Options will primarily be used for general working
capital.
Further information regarding the Offer will be contained in the prospectus.
A general meeting to seek VMC shareholder approval for the issue of the New Options is
expected to be held on or about 1 February 2017.
Assuming receipt of shareholder approval, the prospectus and a personalised entitlement and
acceptance form is expected to be dispatched to Expired Optionholders on or about 2
February 2017.
The information required by Listing Rule 3.10.3 is set out in Annexure A.

Myself and a group of investors were buying options back in 2014 with the aim of converting to support the company, all of them expired and we put our hands back in our pocket to take up the .005c offer to existing option holders with the view that surely we would get some growth on the back of all our very decent projects before Nov 2019. Fast forward another 3 years and here we are again, stuff all share price appreciation and once again the options are dusted. This is becoming a disgraceful lifestyle company. Management have failed us year after year.

SS