Taruga Minerals : Proposed issue of Securities - TAR

Proposed issue of securities

Announcement Summary

Entity name

TARUGA MINERALS LIMITED

Announcement Type

New announcement

Date of this announcement

Tuesday October 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	Options exercisable at a 45% premium to the 5-day VWAP	20,000,000
	expiring 3 years after date of issue

Proposed +issue date

Wednesday December 2, 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

TARUGA MINERALS 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
ACN	153868789
1.3	ASX issuer code
TAR

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

Tuesday October 27, 2020

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

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

Yes

7A.1a Conditions
Approval/Condition	Date for determination	Is the date estimated or	** Approval
+Security holder approval	Monday November 30, 2020	actual?	received/condition met?
Actual
		No
Comments

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?

No

ASX +security code

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

No

+Security description

New class-code to be confirmed		Options exercisable at a 45% premium to the 5-day VWAP expiring 3 years after
		date of issue

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Proposed issue of securities

+Security type

Options

Number of +securities proposed to be issued

20,000,000

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

Nil consideration. However, the Optionholders will need to pay the relevant exercise price to exercise their options and convert into fully paid ordinary shares

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	Exercise price	Expiry date
AUD - Australian Dollar	AUD

Details of the type of +security that will be issued if the option is exercised

TAR : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

One fully paid ordinary share per option

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.

https://www.asx.com.au/asxpdf/20201027/pdf/44p5gbh3f2vc9h.pdf

Part 7C - Timetable

7C.1 Proposed +issue date

Wednesday December 2, 2020

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