34,000,000 Options of NICO Resources Limited are subject to a Lock-Up Agreement Ending on 19-JAN-2024. These Options will be under lockup for 732 days starting from 17-JAN-2022 to 19-JAN-2024.

Details:
Anticipates that ASX will classify certain off the existing shares and all of the existing options an issue in the company, as well as the lead options to be issued, as being subject to their stated securities provisions of the listing rules. classified securities would be required to be held in escrow for up to 24 months end will not be able to sold, mortgaged, pledged, assigned or transferred for that. Without the prior approval of ASX. during the period in which these securities are prohibited from being transferred, trading in the securities or may be less liquid which may be impact an ability of a security holder to Dispose of their securities in a timely manner.

Upon the admission approximately 3,750,000 existing share will be classified as a restricted securities by ASX (including 2,700,000 shares restricted for a period of 24 months from the quotation of the company?s Shares on ASX, and 1,050,000 shares restricted for the 12 month from the date of the issue of those shares which (a) based on minimum subscription comprises 4.63% of the issues yet capital on an undiluted basis end 3.29% on a fully diluted basis (assuming all options are issue an exercise and that no other security are issued) and (b) based on the maximum subscription comprises of 4.12% of the issues share capital on an undiluted basis and two point 2.98% of on a fully diluted basis (assuming all options are issued and exercised on that no other security are issued).

Upon the admission all of the 34,000,000 existing option (comprises 25,000,000 Metals X Options and 9,000,000 directors options) and all of the 8,000,000 lead manager options (and any share issue on the exercise of those options during the escrow period) will be classified as a restricted securities by ASX for the 24 months and will be held until January 19, 2024, being 24 months from the date of Quotation.

2,700,000 fully paid ordinary shares classified by ASX as restricted securities and to be held in escrow until January 19, 2024, being 24 months from the date of Quotation.

675,000 fully paid ordinary shares classified by ASX as restricted securities and to be held in escrow until July 29, 2022, being 12 months from the date of issue.

375,000 fully paid ordinary shares classified by ASX as restricted securities and to be held in escrow until November 10, 2022, being 12 months from the date of issue.