AVIRA RESOURCES LTD — Capital/Financing Update 2020

Aug 11, 2020

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12 August 2020

The Manager Market Announcements Office Level 40, Central Park 152-158 St Georges Terrace PERTH WA 6000

DESPATCH OF ENTITLEMENT OFFER DOCUMENT

Avira Resources Limited (ASX: AVW) ( Avira or the Company ) advises that the offer document for the Company’s underwritten Non-renounceable Entitlement Offer ( Entitlement Offer ) and a personalised entitlement and acceptance form, as announced to ASX on 5 August 2020, was despatched to eligible shareholders today.

The Entitlement Offer is for 275,000,000 options to subscribe for fully paid ordinary shares in the capital of the Company ( New Options ), made to eligible shareholders on the basis of one (1) New Option for every five (5) fully paid ordinary shares held at the Record Date at an issue price of $0.001 to raise $275,000 (before costs). The New Options are exercisable at $0.01 on or before 10 July 2022. Eligible shareholders are encouraged to carefully consider the full details of the Entitlement Offer as contained in the Entitlement Offer document. The offer document for the Entitlement Offer also contains an offer for a placement of up to 200,000,000 New Options to eligible clients of the underwriter, CPS Capital Group Pty Ltd ( Placement ), who will be personally invited to subscribe for New Options under the Placement.

Indicative timetable for Entitlement Offer

Indicative timetable for Entitlement Offer
Lodgement of Prospectus with ASIC	Tuesday, 4 August 2020
Lodgement of Prospectus and Appendix 3B with ASX (includes application for Quotation of New Options)	Wednesday, 5 August 2020
‘Ex’ Date	Friday, 7 August 2020
Record Date(for determiningEntitlements) (5:00pm WST)	Monday, 10 August 2020
Prospectus with Entitlement and Acceptance Form sent to Shareholders, and Entitlement Offer and the Placement opens	Wednesday, 12 August 2020
Last day to extend the ClosingDate	Monday, 24 August 2020
ClosingDate*(5:00pm WST)	Thursday, 27 August 2020
New Options quoted on ASX on a deferred settlement basis	Friday, 28 August 2020
Results of Offer announced and ASX notified of Shortfall	Monday, 31 August 2020
Issue of New Options and despatch of holding statements	Wednesday, 2 September 2020
Trading in New Options expected to commence*	Thursday, 3 September 2020

*The Directors may extend the Closing Date by giving at least three Business Days’ notice to ASX prior to the Closing Date, subject to such date being no later than three months after the date of this Prospectus. As such the date the New Options are expected to commence trading on ASX may vary.

ENDS

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au

ABN: 38 131 715 645

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For, and on behalf of, the Board of the Company, and authorised for release David Deloub

Executive Director

Avira Resources Limited

Shareholders and other interested parties can speak to Mr Sonu Cheema if they have any queries in relation to this announcement: +618 6489 1600.

About Avira Resources Ltd

Avira an Australian Listed (ASX: AVW) minerals exploration company holds two tenements within the Paterson Range province located in the North West of Western Australia. This area is host to a number of substantial gold, copper and tungsten mines and deposits, including the Telfer gold-copper mine. Subsequent significant recent discoveries made by Rio Tinto (Winu project) and the Newcrest-Greatland Gold JV (Havieron project) has reinvigorated interest in the province. In addition, the company also currently holds a number of exploration tenements which are prospective for gold in South Eastern Queensland.

Avira Resources Limited Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645