AIC MINES LIMITED — Capital/Financing Update 2021

Sep 28, 2021

Proposed issue of securities

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Announcement Summary

Entity name

AIC MINES LIMITED

Announcement Type

New announcement

Date of this announcement

29/9/2021

The Proposed issue is:

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A non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

Total number of +securities proposed to be issued for a non pro rata offer of securities under a disclosure document or product disclosure statement (PDS)

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
A1M	ORDINARY FULLY PAID	160000000

Closing date for receipt of acceptances

25/10/2021

Proposed +issue date

29/10/2021

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

AIC MINES 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

ABN 11060156452

1.3 ASX issuer code

A1M

1.4 The announcement is

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New announcement

1.5 Date of this announcement

29/9/2021

1.6 The Proposed issue is:

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A non-+pro rata offer of +securities under a +disclosure document or +PDS

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Part 5 - Details of proposed non-pro rata offer under a disclosure document or PDS

Part 5A - Conditions

5A.1 Do any external approvals need to be obtained or other conditions satisfied before the non-pro rata offer of +securities under a +disclosure document or + PDS can proceed on an unconditional basis? Yes

5A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 25/10/2021 Actual

Comments

Minimum of AUD 30,000,000 to be raised

Part 5B - Offer details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +security code and description

A1M : ORDINARY FULLY PAID

The number of +securities to be offered under the +disclosure document or +PDS

160,000,000

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)? Yes

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Describe the minimum subscription condition Minimum of $30,000,000 to be raised 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? Unit based

Please enter the minimum acceptance value 8,000

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? No

Offer price details

Has the offer price been determined? Yes In what currency will the offer be What is the offer price per +security? made? AUD 0.25000 AUD - Australian Dollar

Oversubscription & Scale back details

Will the entity be entitled to accept over-subscriptions? No

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

Describe the scale back arrangements

Refer to Section 2.8 and 2.9 of the A1M Prospectus dated 27 September 2021 for details of the allocation policy

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

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Yes

Part 5C - Timetable

5C.1 Lodgement date of +disclosure document or +PDS with ASIC

27/9/2021

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5C.2 Date when +disclosure document or +PDS and acceptance forms will be made available to investors 7/10/2021 5C.3 Offer open date 7/10/2021

5C.4 Closing date for receipt of acceptances 25/10/2021 5C.6 Proposed +issue date 29/10/2021 Part 5D - Listing Rule requirements

5D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

5D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

25/10/2021

5D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes Part 5E - Fees and expenses

5E.1 Will there be a lead manager or broker to the proposed offer? Yes 5E.1a Who is the lead manager/broker? Argonaut Securities Pty Ltd Canaccord Genuity (Australia) Limited 5E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

Refer to Section 7.3(c) of the A1M Prospectus dated 27 September 2021 for details of the fees payable to the Joint Lead Managers 5E.2 Is the proposed offer to be underwritten? No

5E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission?

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No

5E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Refer to Section 8.7 of the A1M Prospectus dated 27 September 2021 of costs of the offer

Part 5F - Further Information

5F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Refer to Section 3.13 of the A1M Prospectus dated 27 September 2021 for details of the use of funds raised by the proposed issue

5F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

5F.2 Please explain the entity's allocation policy for the offer, including whether or not acceptances from existing +security holders will be given priority

Up to 20,000,000 shares under the Priority Allocation to any eligible shareholders of the Company Up tp 140,000,000 shares under the General Offer

Refer to Sections 2.8 and 2.9 of the A1M Prospectus dated 27 September 2021 for details of the allocation policy

5F.3 URL on the entity's website where investors can download the +disclosure document or +PDS

https://www.aicmines.com.au/

5F.4 Any other information the entity wishes to provide about the proposed offer

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