asx announcement 29 sept 2022:29 September 2022Company...

asx announcement 29 sept 2022:

29 September 2022
Company Announcements Officer
Australian Securities Exchange
Level 40, Central Park
152-158 St Georges Terrace
Perth WA 6000
Significant Reduction of Creditors and Liabilities
Nex Metals Explorations Ltd (Nex or the Company) is pleased to advise that creditors and liabilities
amounting to $1,283,140.00 has been satisfied by the issue of shares in the Company at a deemed
issue price of $0.05 for total shares issued of 28,919,475.
This is a 42.86% premium to the closing price on 28 September 2022 of $0.035.
The creditors include legal and corporate advisors, other professional advisors with respect to the
recent takeover bid by Metalicity Ltd (ASX:MCT) and the application for forfeiture which is an
ongoing process in the Wardens Court and various other sundry creditors.
The Board considers this a significant vote of confidence and trust in the Company and a significant
improvement with respect to solvency and moving forward.
This then leaves few remaining creditors on the balance sheet besides directors and related entities.
For clarity: Please note that the above payments do not include any payments to directors or their
related entities.

**Directors and related entities liabilities were subsequently cleared with shares @ 5c at the meeting Jan 2023.