Resolution 6 – Approval of issue of Shares to the Sophisticated...

Resolution 6 – Approval of issue of Shares to the Sophisticated Investors
5.1 General
The Board is seeking Shareholder approval to up to 200,000,000 Shares at a minimum
issue price per Share equivalent to a discount of 25% of the previous 15 days VWAP
from issue date to the Sophisticated Investors.
5.2 Reasons for issue of the Shares
The issue of the 200,000,000 Shares to the Sophisticated Investors will provide funding
to the Company that will be essential to secure its operations.
5.3 Purpose of approval
Approval for the issue of the 200,000,000 Shares is sought for the purposes of Listing
Rule 7.1 and for all other purposes.
5.4 ASX Listing Rule 7.1
Listing Rule 7.1 provides that a company must not, without Shareholder approval, issue
or agree to issue during any 12 month period any equity securities, or other securities
with rights to conversion to equity, if the number of those securities exceeds 15% of the
number of securities in the same class on issue at the commencement of that 12
month period.
5.5 Technical information required by Listing Rule 7.3
The following information is provided in accordance with the requirements of Listing
Rule 7.3:
The Sophisticated Investors
The 200,000,000 Shares will be issued to:
(a) sophisticated investors as defined in section 708(8); and
(b) professional investors as defined in section 708(11),
of the Corporations Act, being clients of Golden Venture Capital and of brokers
introduced by Golden Venture Capital.
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Maximum number of Shares that may be issued
The maximum total number of Shares to be issued in accordance with Resolution 6 is
200,000,000.
Timing for the issue of the Shares
The Shares will be issued by 26 June 2021 and in any event no later than 3 months
after the date of the Meeting