ARIKA RESOURCES LIMITED — Capital/Financing Update 2020

Feb 13, 2020

Proposed issue of securities

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Announcement Summary

Entity name

METALICITY LIMITED

Announcement Type

New announcement

Date of this announcement

Friday February 14, 2020

The Proposed issue is:

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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	Unlisted Options exercisable at $0.015 expiring 18/10/20	266,667
n/a	Management Performance Rights	31,650,000
MCT	ORDINARY FULLY PAID	2,027,777

Proposed +issue date

Friday February 14, 2020

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

METALICITY 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

ABN

Registration Number

92086839992

1.3 ASX issuer code

MCT

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Friday February 14, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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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 actual? received/condition met? +Security holder approval Monday November 25, 2019 Actual Yes

Comments

Issue of Fully Paid Ordinary Shares, Unlisted Options and Performance Rights approved at 25 November 2019 AGM

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)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? Yes

Details of +securities proposed to be issued

ASX +Security Code and Description

MCT : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued

2,027,777

Purpose of the issue

Director participation in Rights Issue Partial consideration for tenement acquisition

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Offer price details for retail security holders

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.06000

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

Oversubscription & Scale back details

May a scale back be applied to this event? No

Attaching +Security

Is the proposed attaching 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

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +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 Will the entity be seeking quotation of the 'new' class of of the proposed +securities are appropriate and +securities on ASX? equitable under listing rule 6.1? No Yes

ASX +Security Code +Security Description New class-code to be confirmed Unlisted Options exercisable at $0.015 expiring 18/10/20

+Security Type

Options

Maximum Number of +securities proposed to be issued

266,667

Offer price details for retail security holders

In what currency is the cash consideration being paid? What is the issue price per +security? AUD - Australian Dollar

AUD 0.01500

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Oversubscription & Scale back details

May a scale back be applied to this event? No

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

Options details

+Security Currency

AUD - Australian Dollar

Exercise Price Expiry date AUD 0.0150 Friday December 18, 2020

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

MCTAY : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Please provide any further information relating to the principal terms of the +securities

Unlisted options attached to Rights Issue participation approved at AGM on 25 Nov 19

Details of attaching +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 Will the entity be seeking quotation of the 'new' class of of the proposed +securities are appropriate and +securities on ASX? equitable under listing rule 6.1? No Yes

ASX +Security Code +Security Description New class-code to be confirmed Management Performance Rights

+Security Type

Performance options/rights

Maximum Number of +securities proposed to be issued

31,650,000

Offer price details for retail security holders

In what currency is the cash consideration being paid? What is the issue price per +security? AUD - Australian Dollar AUD 0.02500

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Oversubscription & Scale back details

May a scale back be applied to this event? No

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

Performance options/rights details

+Security Currency

AUD - Australian Dollar

Exercise Price Expiry date AUD 0.0250 Monday January 30, 2023

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

MCTAD : PERFORMANCE RIGHTS

Please provide any further information relating to the principal terms of the +securities

Management Performance Rights approved at 25 Nov 19 AGM and under Management Performance Rights Plan Approved by shareholders

Part 7C - Timetable

7C.1 Proposed +issue date

Friday February 14, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Monday November 25, 2019

7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue? Yes

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7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue No brokerage or costs associated Part 7F - Further Information 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No 7F.2 Any other information the entity wishes to provide about the proposed issue

Director participation in placement as approved by shareholders 25 Nov 19 for shares and unlisted options Shares issued to unrelated parties for tenement acquisition Shareholder approved issue of Management Performance Rights

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