Just received via email:Dear ShareholdersRefund of surplus funds...

Just received via email:

Dear Shareholders

Refund of surplus funds - Li-S Energy Limited Prospectus dated 29 July 2021 - Priority Offer

On 29 July 2021 the Company issued a Prospectus for the issue of 40,000,000 New Shares at an issue price of $0.85 to raise $34,000,000 (Offer).

On 13 August 2021, the Board of Li-S Energy resolved to close the Offer due to heavy demand for the New Shares.

The ASX is currently continuing to progress the Li-S Energy application for admission to the ASX's official list and a timeframe for conditional listing approval is expected to be confirmed shortly. Li-S Energy cannot issue New Shares until such time as the ASX grants quotation of the New Shares.

The funds received under the Priority Offer from eligible existing Li-S Energy shareholders have been held by Automic Share Registry pending the allotment of New Shares.

In these circumstances, the Board of Li-S Energy has resolved to determine preliminary allocations so that surplus funds (in excess of the preliminary allocation amounts) can be returned to Priority Offer subscribers.

It is anticipated that a minimum of 3,000 New Shares will be allocated to eligible existing Li-S Energy shareholders who subscribed for New Shares under the Priority Offer. Shareholders who applied for more than 3,000 New Shares will receive the minimum allocation of 3,000 New Shares plus approximately 27% of the balance of New Shares that they applied for.

Your refund will be made to your nominated bank account within the next 2-3 business days.

Please contact Automic Share Registry on [email protected] if you have not received a payment of surplus funds within this timeframe. Automic Share Registry will send you a statement of New Shares allotted and details of the amount repaid to you once the New Shares have been allotted.

We will provide you with further details at the earliest opportunity.

Yours faithfully,

Andrew Cooke

Company Secretary, Li-S Energy Limited