Castillo Copper : Proposed issue of Securities - CCZ

Proposed issue of securities

Announcement Summary

Entity name

CASTILLO COPPER LIMITED

Announcement Type

New announcement

Date of this announcement

Friday March 27, 2020

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +Security Code	+Security Description	+securities to be issued
n/a	Quoted options exercisable at $0.05 on or before 27 March	61,500,000
	2023

Proposed +issue date

Friday March 27, 2020

Refer to next page for full details of the announcement

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Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

CASTILLO COPPER LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2	Registered Number Type	Registration Number
ABN	52137606476
1.3	ASX issuer code
CCZ

1. The announcement is New announcement
2. Date of this announcement

Friday March 27, 2020

1.6 The Proposed issue is:

A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue?

+Security holder approval

Court approval

Lodgement of court order with +ASIC

ACCC approval

FIRB approval

Another approval/condition external to the entity

No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?

New class

Will the proposed issue of this +security include an offer of attaching +securities?

No

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?

Yes

ASX +Security Code

New class-code to be confirmed

Will the entity be seeking quotation of the 'new' class of +securities on ASX?

Yes

+Security Description

Quoted options exercisable at $0.05 on or before 27 March 2023

+Security Type

Options

Maximum Number of +securities proposed to be issued

61,500,000

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Purpose of the issue

A one-for-one free attaching option for the placement participants of the placement completed on 12 December 2018.

Offer price details for retail security holders

In what currency is the cash consideration being paid?

What is the issue price per +security?

Will all the +securities issued in this class rank equally in all respects from their issue date?

Yes

Oversubscription & Scale back details

May a scale back be applied to this event?

No

Options details
+Security Currency	Exercise Price	Expiry date
AUD - Australian Dollar	AUD 0.0500	Monday March 27, 2023

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

CCZ : ORDINARY FULLY PAID

Please provide any further information relating to the principal terms of the +securities

Quoted options exercisable at $0.05 on or before 27 March 2023

Part 7C - Timetable

7C.1 Proposed +issue date

Friday March 27, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

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7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

Friday March 27, 2020

7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? No

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

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