Cyclone Metals : Proposed issue of securities - CLE

Proposed issue of securities

Announcement Summary

For personal use only

Entity name

CYCLONE METALS LIMITED

Announcement Type

New announcement

Date of this announcement

23/3/2022

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
New class-code to be	Unlisted Options ($0.006 expiring 31 March 2024)	22,500,000
confirmed
CLE	ORDINARY FULLY PAID	90,000,000

Proposed +issue date

23/3/2022

Refer to next page for full details of the announcement

Proposed issue of securities

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Proposed issue of securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of +Entity

CYCLONE METALS 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.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2	Registered Number Type	Registration Number
ACN	095047920
1.3	ASX issuer code
CLE

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

23/3/2022

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

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Proposed issue of securities

Part 7 - Details of proposed placement or other issue

only
	Part 7A - Conditions
		7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other
		type of issue can proceed on an unconditional basis?
use	No
	Part 7B - Issue details
		Is the proposed security a 'New	Will the proposed issue of this
		class' (+securities in a class that is	+security include an offer of
		not yet quoted or recorded by ASX)	attaching +securities?
personal	or an 'Existing class' (additional	Yes
securities in a class that is already
consideration?
		quoted or recorded by ASX)?
		Existing class
	Details of +securities proposed to be issued
		ASX +security code and description
		CLE : ORDINARY FULLY PAID
		Number of +securities proposed to be issued
		90,000,000
		Offer price details
		Are the +securities proposed to be issued being issued for a cash
For	Yes
In what currency is the cash	What is the issue price per
		consideration being paid?	+security?
		AUD - Australian Dollar	AUD 0.00500

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

Yes

Proposed issue of securities

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Proposed issue of securities

Attaching +Security

Is the proposed attaching 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

only
Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)
	Details of attaching +securities proposed to be issued
use	ISIN Code (if Issuer is a foreign company and +securities are non CDIs)
Have you received confirmation from ASX that the terms		Will the entity be seeking quotation of the 'new' class o
	of the proposed +securities are appropriate and		+securities on ASX?
	equitable under listing rule 6.1?		No
	Yes
	ASX +security code		+Security description
	New class-code to be confirmed		Unlisted Options ($0.006 expiring 31 March 2024)
personal
+Security type
Options
	Number of +securities proposed to be issued
	22,500,000
	Offer price details
	Are the +securities proposed to be issued being issued for a cash consideration?
	No
	Please describe the consideration being provided for the +securities
	Placement (refer ASX announcement 24 February 2022)
For	Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

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

Yes

Options details

+Security currency

AUD - Australian Dollar

Proposed issue of securities

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Proposed issue of securities

			Exercise price	Expiry date
			AUD 0.0060	31/3/2024
			Details of the type of +security that will be issued if the option is exercised
			CLE : ORDINARY FULLY PAID
only		Number of securities that will be issued if the option is exercised
	22,500,000
			Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities
			proposed to be issued or provide the information by separate announcement.
use
	Part 7C - Timetable
personal	7C.1 Proposed +issue date
23/3/2022
	Part 7D - Listing Rule requirements
		7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1?
			No
		7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15%
		placement capacity under listing rule 7.1?
			Yes
		7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15%
		placement capacity under listing rule 7.1?
		22,500,000 Options
For	7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's
additional 10% placement capacity under listing rule 7.1A (if applicable)?
	Yes

7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A?

90,000,000 Shares

7D.1c ( ii ) Please explain why the entity has chosen to do a placement rather than a +pro rata issue or an offer under a +security purchase plan in which existing ordinary +security holders would have been eligible to participate

The Board has considered all funding methods available and considers a placement to be the best option available to the Company for raising funds

Proposed issue of securities

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