This notice is given by Poseidon Nickel Limited (ACN 060 525 206) ('Poseidon' or 'Company') (ASX: POS) under section 708A(5)(e) of the Corporations Act.

Poseidon refers to its announcement on 14 December 2020 regarding the successful completion of a share placement to raise $10 million (before costs). Poseidon has today issued 166,666,667 fully paid ordinary shares at an issue price of A$0.06 per share in respect of that share placement.

The Company advises that: (a) the above-mentioned shares were issued without disclosure to investors under Part 6D.2 of the Act; (b) this notice is being given under section 708A(5)(e) of the Act; as at the date of this notice, the Company has complied with: a. the provisions of Chapter 2M of the Corporations Act as they apply to the Company and b. section 674 of the Corporations Act and (d) as at the date of this notice, there is no information that is 'excluded information' within the meanings of section 708A(7) and 708A(8) of the Corporations Act.

Contact:

Tel: +61 8 6167 6600

Email: admin@poseidon-nickel.com.au

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