BLACK CANYON LIMITED — Share Issue/Capital Change 2021

Sep 1, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

BLACK CANYON LIMITED

Date of this announcement

Thursday September 02, 2021

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
BCAAC	ORDINARY FULLY PAID RESTRICTED	750,000	02/09/2021
New class - code	ORDINARY FULLY PAID RESTRICTED 12	250,000	02/09/2021
to be confirmed	MONTHS FROM ISSUE

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

BLACK CANYON LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

63150714739

1.3 ASX issuer code

BCA

1.4 The announcement is

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New announcement

1.5 Date of this announcement

2/9/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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Other

Please specify

Issue of Tranche 2 to vendors of Zephyr Exploration Pty Ltd

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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has an existing ASX security code ("existing class") does not have an existing ASX security code ("new class")

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Part 3B - number and type of +securities the subject of this notification (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities in an existing class

ASX +security code and description

BCAAC : ORDINARY FULLY PAID RESTRICTED

Date the +securities the subject of this notification were issued

2/9/2021

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

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

The issue is in accordance with the Zephyr Exploration Share Sale Agreement as detailed in the Company Prospectus dated 17 March 2021

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Issue details

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Number of +securities 750,000

Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities Tranche 2 of Zephyr Exploration Pty Ltd Purpose of the issue To pay for the acquisition of an asset Additional Details Name of company or asset being acquired Zephyr Exploration Pty Ltd

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities

ASX +security code +Security description New class - code to be confirmed ORDINARY FULLY PAID RESTRICTED 12 MONTHS FROM ISSUE +Security type ISIN code Ordinary fully or partly paid shares/units Date the +securities the subject of this notification were issued 2/9/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Ordinary fully or partly paid shares/units Details

+Security currency

AUD - Australian Dollar

Are there CDIs issued over the +securities? No

Is it a Partly Paid class of +security? No

Is it a stapled class of +security? No

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Issued in accordance with Zephyr Exploration Pty Ltd Share Sale Agreement as disclosed in Prospectus dated 17 March 2021

Issue details

Number of +securities

250,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Tranche 2 of Zephyr Exploration Pty Ltd

Purpose of the issue

To pay for the acquisition of an asset

Additional Details

Name of company or asset being acquired

Zephyr Exploration Pty Ltd

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
BCA : ORDINARY FULLY PAID	31,220,503
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
BCAAE : OPTION EXPIRING 22-JUN-2023 RESTRICTED	283,335
BCAAF : OPTION EXPIRING 05-MAY-2024 RESTRICTED	1,000,000
BCAAA : ORDINARY FULLY PAID RESTRICTED	2,139,998
BCAAB : ORDINARY FULLY PAID RESTRICTED	250,000
BCAAD : OPTION EXPIRING 22-JUN-2023 RESTRICTED	1,841,674
BCAAC : ORDINARY FULLY PAID RESTRICTED	6,873,334
New class - code to be confirmed : ORDINARY FULLY PAID RESTRICTED 12 MONTHS	250,000
FROM ISSUE

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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