CADOUX LIMITED — Capital/Financing Update 2020

Oct 26, 2020

Proposed issue of securities

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Announcement Summary

Entity name

FYI RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Tuesday October 27, 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 2,250,000

Proposed +issue date

Wednesday December 2, 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

FYI RESOURCES 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

85061289218

1.3 ASX issuer code

FYI

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Tuesday October 27, 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 Friday November 27, 2020 Actual

Comments

Part 7B - Issue 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)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No No ASX +security code +Security description New class-code to be confirmed Unlisted options

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Proposed issue of securities

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+Security type

Options

Number of +securities proposed to be issued

2,250,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

The options will be issued for nil consideration. The purpose of the issue of the options is to incentivise the Directors and to issue the options as part of the Director's remuneration package

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

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

Options details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.2450	Sunday November 27, 2022

Details of the type of +security that will be issued if the option is exercised FYI : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

one fully paid ordinary share

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02299710-6A1003499?access_token=8 3ff96335c2d45a094df02a206a39ff4 The exercise price provided above is an example based on 140% of the closing price of $0.175 of FYI shares on 26 October 2020. The actual exercise price of the Options will be 140% of the volume weighted average price for the 5 days on which Shares trade prior to the Meeting and will be calculated following the grant of shareholder approval.

Part 7C - Timetable

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7C.1 Proposed +issue date

Wednesday December 2, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? No

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes

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

Part 7F - Further Information

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7F.01 The purpose(s) for which the entity is issuing the securities

The purpose of the issue of the Options is to incentivise the Directors and to issue the Options as part of the Director's remuneration package

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

The exercise price provided is an example based on 140% of the closing price of $0.175 of FYI shares on 26 October 2020. The actual exercise price of the Options will be 140% of the volume weighted average price for the 5 days on which Shares trade prior to the Meeting and will be calculated following the grant of shareholder approval.

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