ARIKA RESOURCES LIMITED — Capital/Financing Update 2016

Jun 7, 2016

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Metalicity Limited 6 Outram Street West Perth WA 6005 Ph: + 61 8 9324 1053 Fax: +61 8 9324 3366 Web: www.metalicity.com.au

ASX Code: MCT

7 June 2016 Ben Tippett Adviser, Listings Compliance (Perth) Australian Securities Exchange Level 40, Central Park, 152-­158 St Georges Terrace Perth WA 6000

Dear Sir

NOTICE UNDER ASX LISTING RULE 3.10.5A

Further to ASX announcement by Metalicity Limited (the “Company”) on 6 June 2016, the Company has raised approximately $3,003,000 before costs via a placement of 42.9m fully paid ordinary shares (“New Shares”) to non-­related sophisticated investors (“Placement”).

The Company issued the shares by utilizing placement capacity under ASX Listing Rules 7.1 and 7.1A and therefore provides the following additional information as required under ASX Listing Rule 3.10.5A:

• (a) Dilution to the existing holders of fully paid ordinary shares:

Description	Number of Shares	Dilution
Fully paid ordinary shares prior to placement	360,769,654	N/a
Fully paid ordinaryshares issued under ASX LR7.1	8,073,035	2.18%
Fully paid ordinary shares issued under ASX LR7.1A	34,826,965	8.63%

• (b) The New Shares were issued to non-­related sophisticated investors invited to participate in the Placement. The New Shares were issued for cash consideration and raised approximately $3.003m before costs for the Company. The Company did not consider that market conditions were conducive to a pro-­rata issue at this stage.

• (c) The issue of New Shares under the Placement were not underwritten.

• (d) Brokerage fees of 5% of the amount raised were incurred by the Company in connection with the Placement.

Yours sincerely,

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Neil Hackett Company Secretary

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