Proposed issue of securities

Update Summary

Entity name

GREENVALE MINING LTD

Announcement Type

Update to previous announcement

Date of this announcement

Thursday March 18, 2021

Reason for update to a previous announcement

Increase in the number of securities to be issued under Share Purchase Plan

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

GREENVALE MINING LTD

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

54000743555

1.3

ASX issuer code

GRV

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Increase in the number of securities to be issued under Share Purchase Plan

1.4b Date of previous announcement(s) to this update

Friday February 19, 2021

1.5 Date of this announcement

Thursday March 18, 2021

1.6 The Proposed issue is:

An offer of +securities under a +securities purchase plan

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Proposed issue of securities

Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 - Are any of the following approvals required for the offer of +securities under the +securities purchase plan issue to be unconditional?

+Security holder approval

Court approval

Lodgement of court order with +ASIC

ACCC approval

FIRB approval

Another approval/condition external to the entity

No

Part 4B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

GRV : ORDINARY FULLY PAID

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

No

Details of +securities proposed to be issued

ASX +security code and description

GRV : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted

34,615,385

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)?

No

Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)?

No

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Proposed issue of securities

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)?

Yes

Is the minimum acceptance unit based or dollar based?

Dollar based ($)

Please enter the minimum acceptance value

$ 2,000

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)?

Yes

Is the maximum acceptance unit based or dollar based?

Dollar based ($)

Please enter the maximum acceptance value

$ 30,000

Describe all the applicable parcels available for this offer in number of securities or dollar value

$2,000, $5,000, $10,000, $15,000, $20,000, $25,000, $30,000

Reason for the update of 'Maximum Number of +securities proposed to be issued

Offer price details

Has the offer price been determined?

Yes

In what currency will the offer be made?

What is the offer price per +security?

AUD - Australian Dollar

AUD 0.13000

Oversubscription & Scale back details

Will a scale back be applied if the offer is over-subscribed?

Yes

Describe the scale back arrangements

Board has elected to increase the full offer amount under the plan from $3,000,000 to $4,500,000 and there will be an equitable scale back at the total discretion of the board

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

Yes

Part 4C - Timetable

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Proposed issue of securities

4C.1 Date of announcement of +security purchase plan

Friday February 19, 2021

4C.2 +Record date

Thursday February 18, 2021

4C.3 Date on which offer documents will be made available to investors

Friday February 26, 2021

4C.4 Offer open date

Friday February 26, 2021

4C.5 Offer closing date

Monday March 15, 2021

4C.6 Announcement of results

Thursday March 18, 2021

4C.7 +Issue date

Monday March 22, 2021

Part 4D - Listing Rule requirements

4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements?

Yes

Part 4E - Fees and expenses

4E.1 Will there be a lead manager or broker to the proposed offer? No

4E.2 Is the proposed offer to be underwritten? No

4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission?

No

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Greenvale Energy Ltd. published this content on 18 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2021 13:39:11 UTC.