Proposed issue of securities

Update Summary

For personal use only

Entity name

TORIAN RESOURCES LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

16/11/2021

Reason for update to a previous announcement

An update on the maximum number of options to be issued

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

TORIAN RESOURCES 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

002261565

1.3

ASX issuer code

TNR

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

An update on the maximum number of options to be issued

1.4b Date of previous announcement to this update

18/10/2021

1.5 Date of this announcement

16/11/2021

1.6 The Proposed issue is:

A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is: + Non-renounceable

Proposed issue of securities

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Proposed issue of securities

Part 3 - Details of proposed entitlement offer issue

only

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can

proceed on an unconditional basis?

use

No

Part 3B - Offer details

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

personal

proposed to be issued

ASX +security code and description

TNR : ORDINARY FULLY PAID

Is the proposed security a 'New

Will the proposed issue of this

If the entity has quoted company

class' (+securities in a class that is

+security include an offer of

options, do the terms entitle option

not yet quoted or recorded by ASX)

attaching +securities?

holders to participate on exercise?

or an 'Existing class' (additional

No

No

securities in a class that is already

quoted or recorded by ASX)?

New class

D

tails of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

For

ISIN Code for the entitlement or right to participate in a non-renounceable

issue (if Issuer is foreign company and +securities are non CDIs)

Have you received confirmation from

Will the entity be seeking quotation

ASX that the terms of the proposed

of the 'new' class of +securities on

+securities are appropriate and

ASX?

equitable under listing rule 6.1?

Yes

No

ASX +security code

+Security description

New class-code to be confirmed

Options exercisable at $0.035 expiring 30 November 2023

Proposed issue of securities

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For personal use only

Proposed issue of securities

+Security type

Options

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)

The quantity of additional +securities

For a given quantity of +securities

to be issued

held

2

5

What will be done with fractional

Maximum number of +securities

entitlements?

proposed to be issued (subject to

rounding)

Fractions rounded down to the nearest

436,016,838

whole number or fractions disregarded

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

Between date of lodgement of the Appendix 3B and the closing of the issue, the number of Ordinary Shares on issue has changed.

Offer price details for retail security holders

In what currency will the offer be

What is the offer price per +security

made?

for the retail offer?

AUD - Australian Dollar

AUD 0.00100

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)?

Yes

Describe the limits on over-subscription

Total of 347,754,860 options being offered.

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

Yes

Describe the scale back arrangements

To be determined

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

Yes

Proposed issue of securities

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Proposed issue of securities

Options details

+Security currency

Exercise price

Expiry date

AUD - Australian Dollar

AUD 0.0350

30/11/2023

only

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

TNR : ORDINARY FULLY PAID

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

One fully paid ordinary share (ASX:TNR)

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 3C - Timetable

personal

3C.1 +Record date

29/10/2021

3C.2 Ex date

28/10/2021

3C.4 Record date

29/10/2021

3C.5 Date on which offer documents will be sent to +security holders

entitled to participate in the +pro rata issue

3/11/2021

3C.6 Offer closing date

12/11/2021

For

3C.7 Last day to extend the offer closing date

9/11/2021

3C.9 Trading in new +securities commences on a deferred settlement basis

15/11/2021

3C.11 +Issue date and last day for entity to announce results of +pro rata

issue 19/11/2021

3C.12 Date trading starts on a normal T+2 basis

22/11/2021

Proposed issue of securities

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Torian Resources Ltd. published this content on 16 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2021 05:55:02 UTC.