CANNINDAH RESOURCES LIMITED — Capital/Financing Update 2021

Mar 3, 2021

4 March 2021

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ASX RELEASE

ASX Code: CAE

CANNINDAH RAISES $1 MILLION TO ADVANCE EXPLORATION AT PICCADILLY

Cannindah Resources Limited is very pleased to announce that it has raised $1,000,280 through the issue of 20,400,000 shares in a placement managed by 180 Markets.

Funds received from the capital raising will be used to advance drilling and other exploration activities at the Piccadilly project, meet working capital needs and the costs of the issue. The work will initially focus on drill targets determined by the trench sampling to be conducted in ML 1442 as highlighted in our ASX announcement of 2 March 2021.

Cannindah Resources Chairman Tom Pickett commented “Cannindah Resources has been working towards realising the potential of its high-quality exploration assets, Piccadilly and Mt Cannindah. This capital raising, following on from the announcement late last year of the proposal to convert the Company’s existing loan from its largest shareholder to equity, places the Company in a strong financial position to move forward to achieving this outcome. We sincerely thank investors, new and existing, for their strong support. We welcome new shareholders and thank 180 Markets for their efforts in managing the Placement so successfully.”

The Appendix 2A is attached.

Authorised for release by the Board.

For further information, please contact:

Tom Pickett

Executive Chairman Ph: 61 7 3357 3988

This appendix is not available as an online form Please fill in and submit as a PDF announcement

+Rule 2.7

Appendix 2A

Application for quotation of +securities

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

If you are an entity incorporated outside Australia and you are seeking quotation of a new class of +securities other than CDIs, you will need to obtain and provide an International Securities Identification Number (ISIN) for that class. Further information on the requirement for the notification of an ISIN is available from the Create Online Forms page. ASX is unable to create the new ISIN for nonAustralian issuers.

*Denotes minimum information required for first lodgement of this form, with exceptions provided in specific notes for certain questions. The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Part 1 – Entity and announcement details

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Question Question Answer
no
1.1 Name of entity Cannindah Resources Limited
We (the entity here named) apply for
+quotation of the following +securities and
agree to the matters set out in
Appendix 2A of the ASX Listing Rules. [1]
1.2 Registration type and number 35 108 146 694
Please supply your ABN, ARSN, ARBN, ACN or
another registration type and number (if you supply
another registration type, please specify both the type
of registration and the registration number).
1.3 ASX issuer code CAE
1.4 This announcement is ☒ A new announcement
Tick whichever is applicable. ☐ An update/amendment to a previous
announcement
☐ A cancellation of a previous
announcement
1.4a Reason for update N/A
Mandatory only if “Update” ticked in Q1.4 above. A
reason must be provided for an update.
1.4b Date of previous announcement to this N/A
update
Mandatory only if “Update” ticked in Q1.4 above.
1.4c Reason for cancellation N/A
Mandatory only if “Cancellation” ticked in Q1.4 above.
1.4d Date of previous announcement to this N/A
cancellation
Mandatory only if “Cancellation” ticked in Q1.4 above.
1.5 Date of this announcement 4 March 2021
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1 Appendix 2A of the Listing Rules includes a warranty that an offer of the securities for sale within 12 months after their issue will not require disclosure under section 707(3) or 1012C(6) of the Corporations Act. If the securities to be quoted have been issued by way of a pro rata offer, to give this warranty, you will generally need to have lodged a cleansing notice with ASX under section 708AA(2)(f) or 1012DAA(2)(f) of the Corporations Act within 24 hours before the securities are offered (see ASIC Regulatory Guide 189 Disclosure relief for rights issues ). If in doubt, please consult your legal adviser.

• See chapter 19 for defined terms 31 January 2020

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This appendix is not available as an online form Appendix 2A Please fill in and submit as a PDF announcement Application for quotation of +securities

Appendix 2A

Part 2 – Type of issue

Part 2 –	Type of issue
Question No.	Question	Answer
2.1	*The +securities to be quoted are: Select whichever item is applicable. If you wish to apply for quotation of different types of issues of securities, please complete a separate Appendix 2A for each type of issue.	☒Being issued as part of a transaction or transactions previously announced to the market in an Appendix 3B ☐Being issued under a +dividend or distribution plan ☐Being issued as a result of options being exercised or other +convertible securities being converted ☐Unquoted partly paid +securities that have been paid up and are now quoted fully paid +securities ☐+Restricted securities where the escrow period has expired or is about to expire ☐+Securities previously issued under an +employee incentive scheme where the restrictions on transfer have ceased or are about to cease ☐+Securities issued under an +employee incentive scheme that are not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer ☒Other – shares issued to lead broker and shareholders participating in the placement.
2.2a.1	*Date of Appendix 3B notifying the market of the proposed issue of +securities for which quotation is now being sought Answer this question if your response to Q2.1 is “Being issued as part of a transaction or transactions previously announced to the market in an Appendix 3B”	23 December 2020
2.2a.2	*Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B? Answer this question if your response to Q2.1 is “Being issued as part of a transaction or transactions previously announced to the market in an Appendix 3B”.	yes
2.2a.2.1	*Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B Answer this question if your response to Q2.1 is “Being issued as part of a transaction or transactions previously announced to the market in an Appendix 3B” and your response to Q2.2a.2 is “Yes”. Please provide details of the proposed dates and number of securities for the further issues. This may be the case, for example, if the Appendix 3B related to an accelerated pro rata offer with an institutional component being quoted on one date and a retail component being quoted on a later date.	Shareholders have authorised the issue of up to 200 million shares over the three- month period following the AGM on 17 December 2020. The Company anticipates further issues will be made during the period.

• See chapter 19 for defined terms

31 January 2020

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This appendix is not available as an online form Appendix 2A Please fill in and submit as a PDF announcement Application for quotation of +securities

Appendix 2A

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2.2b.1 Date of Appendix 3A.1 lodged with ASX in N/A
relation to the underlying +dividend or
distribution
Answer this question if your response to Q2.1 is “Being
issued under a dividend or distribution plan”.
2.2b.2 Does the +dividend or distribution plan N/A
meet the requirement of listing rule 7.2
exception 4 that it does not impose a limit
on participation?
Answer this question if your response to Q2.1 is “Being
issued under a dividend or distribution plan”.
Note: Exception 4 only applies where security holders
are able to elect to receive all of their dividend or
distribution as securities. For example, Exception 4
would not apply in the following circumstances: 1) The
entity has specified a dollar limit on the level of
participation e.g. security holders can only participate
to a maximum value of $x in respect of their
entitlement, or 2) The entity has specified a maximum
number of securities that can participate in the plan
e.g. security holders can only receive securities in lieu
of dividend payable for x number of securities.
2.2c.1 Please state the number and type of N/A
options that were exercised or other
+convertible securities that were converted
(including their ASX security code)
Answer this question if your response to Q2.1 is “Being
issued as a result of options being exercised or other
convertible securities being converted”.
2.2c.2 And the date the options were exercised or N/A
other +convertible securities were
converted
Answer this question if your response to Q2.1 is “Being
issued as a result of options being exercised or other
convertible securities being converted”.
Note: If this occurred over a range of dates, enter the
date the last of the options was exercised or
convertible securities was converted.
2.2d.1 Please state the number and type of partly N/A
paid +securities (including their ASX
security code) that were fully paid up
Answer this question if your response to Q2.1 is
“Unquoted partly paid securities that have been paid
up and are now quoted fully paid securities”.
2.2d.2 And the date the [+] securities were fully paid N/A
up
Answer this question if your response to Q2.1 is
“Unquoted partly paid securities that have been paid
up and are now quoted fully paid securities”.
Note: If this occurred over a range of dates, enter the
date the last of the securities was fully paid up.
2.2e.1 Please state the number and type of N/A
+restricted securities (including their ASX
security code) where the escrow period has
expired or is about to expire
Answer this question if your response to Q2.1 is
“Restricted securities where the escrow period has
expired or is about to expire”.
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This appendix is not available as an online form Appendix 2A Please fill in and submit as a PDF announcement Application for quotation of +securities

Appendix 2A

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2.2e.2 And the date the escrow restrictions have N/A
ceased or will cease
Answer this question if your response to Q2.1 is
“Restricted securities where the escrow period has
expired or is about to expire”.
Note: If this occurred over a range of dates, enter the
date the last of the escrow restrictions has ceased or
will cease.
2.2f.1 Please state the number and type of N/A
+securities (including their ASX security
code) previously issued under the
+employee incentive scheme where the
restrictions on transfer have ceased or are
about to cease
Answer this question if your response to Q2.1 is
“Securities previously issued under an employee
incentive scheme where the restrictions on transfer
have ceased or are about to cease”.
2.2f.2 And the date the restrictions on transfer N/A
have ceased or will cease:
Answer this question if your response to Q2.1 is
“Securities previously issued under an employee
incentive scheme where the restrictions on transfer
have ceased or are about to cease”.
Note: If this occurred over a range of dates, enter the
date the last of the restrictions on transfer has ceased
or will cease.
2.2g.1 Please state the number and type of N/A
+securities (including their ASX security
code) issued under an +employee incentive
scheme that are not subject to a restriction
on transfer or that are to be quoted
notwithstanding there is a restriction on
transfer
Answer this question if your response to Q2.1 is
“Securities issued under an employee incentive
scheme that are not subject to a restriction on transfer
or that are to be quoted notwithstanding there is a
restriction on transfer”.
2.2g.2 Please attach a document or provide N/A
details of a URL link for a document lodged
with ASX detailing the terms of the
+employee incentive scheme or a summary
of the terms.
Answer this question if your response to Q2.1 is
“Securities issued under an employee incentive
scheme that are not subject to a restriction on transfer
or that are to be quoted notwithstanding there is a
restriction on transfer”.
2.2g.3 Are any of these +securities being issued No
to +key management personnel (KMP) or
an +associate
Answer this question if your response to Q2.1 is
“Securities issued under an employee incentive
scheme that are not subject to a restriction on transfer
or that are to be quoted notwithstanding there is a
restriction on transfer”.
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• See chapter 19 for defined terms

31 January 2020

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This appendix is not available as an online form Appendix 2A Please fill in and submit as a PDF announcement Application for quotation of +securities

Appendix 2A

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2.2g.3.a Provide details of the recipients and the number of +securities issued to each of them.
Answer this question if your response to Q2.1 is “Securities issued under an employee incentive scheme that are
not subject to a restriction on transfer or that are to be quoted notwithstanding there is a restriction on transfer”
and your response to Q2.2g.3 is “Yes”. Repeat the detail in the table below for each KMP involved in the issue. If
the securities are being issued to the KMP, repeat the name of the KMP or insert “Same” in “Name of registered
holder”. If the securities are being issued to an associate of a KMP, insert the name of the associate in “Name of
registered holder”.
N/A
Name of KMP Name of registered holder Number of +securities
2.2h.1 The purpose(s) for which the entity is ☒ To raise additional working capital
issuing the +securities is: ☐ To fund the retirement of debt
Answer this question if your response to Q2.1 is
“Other”. ☐ To pay for the acquisition of an asset
You may select one or more of the items in the list. [ provide details below ]
☒ To pay for services rendered
[ provide details below ]
☒ Other [p rovide details below ]
Additional details :
Funds raised will be applied to exploration
including drilling at the Piccadilly project,
working capital and costs of the issue
2.2h.2 Please provide any further information N/A
needed to understand the circumstances in
which you are applying to have these
+securities quoted on ASX, including (if
applicable) why the issue of the +securities
has not been previously announced to the
market in an Appendix 3B
You must answer this question if your response to
Q2.1 is “Other”. If there is no other information to
provide, please answer “Not applicable” or “N/A”.
2.2i Are these +securities being offered under No
a +disclosure document or +PDS?
Answer this question if your response to Q2.1 is any
option other than “Being issued as part of a transaction
or transactions previously announced to the market in
an Appendix 3B”.
2.2i.1 Date of +disclosure document or +PDS? N/A
Answer this question if your response to Q2.1 is any
option other than “Being issued as part of a transaction
or transactions previously announced to the market in
an Appendix 3B” and your response to Q2.2i is “Yes”.
Under the Corporations Act, the entity must apply for
quotation of the securities within 7 days of the date of
the disclosure document or PDS.
2.3 The +securities to be quoted are: ☒ Additional +securities in a class that is
Tick whichever is applicable already quoted on ASX ("existing
class")
☐ New +securities in a class that is not yet
quoted on ASX ("new class")
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• See chapter 19 for defined terms 31 January 2020

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This appendix is not available as an online form Appendix 2A Please fill in and submit as a PDF announcement Application for quotation of +securities

Appendix 2A

Part 3A – number and type of +securities to be quoted (existing class or new class) where issue has previously been notified to ASX in an Appendix 3B

Answer the questions in this Part if your response to Q2.1 is “Being issued as part of a transaction or transactions previously announced to the market in an Appendix 3B” and your response to Q2.3 is “existing class” or “new class”.

Question No.	Question	Answer
3A.1	*ASX security code & description	CAE
3A.2	*Number of +securities to be quoted	21,604,000

Part 3B – number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B

NOT APPLICABLE

Answer the questions in this Part if your response to Q2.1 is anything other than “Being issued as part of a transaction or transactions previously announced to the market in an Appendix 3B” and your response to Q2.3 is “existing class”.

Part 3C – number and type of +securities to be quoted (new class) where issue has not previously been notified to ASX in an Appendix 3B

NOT APPLICABLE

Answer the questions in this Part if your response to Q2.1 is anything other than “Being issued as part of a transaction or transactions previously announced to the market in an Appendix 3B” and your response to Q2.3 is “new class”.

Part 4 – Issue details

Part 4 –	Issue details
Question No.	Question	Answer
4.1	*Have the +securities to be quoted been issued yet?	Yes
4.1a	*What was their date of issue? Answer this question if your response to Q4.1 is “Yes”.	3 and 4 March 2021
4.1b	*What is their proposed date of issue? Answer this question if your response to Q4.1 is “No”.	1,000,000 shares issued on 3 March 2021. 20,604,000 shares issued on 4 March 2021
4.2	*Are the +securities to be quoted being issued for a cash consideration? If the securities are being issued for nil cash consideration, answer this question “No”.	yes
4.2a	*In what currency is the cash consideration being paid For example, if the consideration is being paid in Australian Dollars, state AUD. Answer this question if your response to Q4.2 is “Yes”.	AUD

• See chapter 19 for defined terms 31 January 2020

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This appendix is not available as an online form Appendix 2A Please fill in and submit as a PDF announcement Application for quotation of +securities

Appendix 2A

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4.2b What is the issue price per +security  1,000,000 shares issued at $0.025
Answer this question if your response to Q4.2 is “Yes” pursuant to an agreement of 28 January
and by reference to the issue currency provided in 2021.
your response to Q4.2a.
 20,400,000 shares issued at an average
Note: you cannot enter a nil amount here. If the
securities are being issued for nil cash consideration, price of $0.4855 comprising 13,600,000
answer Q4.2 as “No” and complete Q4.2c and Q4.2d. shares issued pursuant to shareholder
approval at $0.072 per share and
6,800,000 shares issued to placement
recipients at $0.0031 per share.
 204,000 shares issued as fee to the
[placement manager at $0.072 per
share
4.2c Please describe the consideration being N/A
provided for the +securities to be quoted
Answer this question if your response to Q4.2 is “No”.
4.2d Please provide an estimate (in AUD) of the N/A
value of the consideration being provided
per +security for the +securities to be
quoted
Answer this question if your response to Q4.2 is “No”.
4.3 Any other information the entity wishes to N/A
provide about the issue
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Part 5 – Issued capital following quotation

Part 5 – Issued capital following quotation	Part 5 – Issued capital following quotation	Part 5 – Issued capital following quotation	Part 5 – Issued capital following quotation
Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise: Note: the figures provided in the tables in sections 5.1 and 5.2 below are used to calculate the total market capitalisation of the entity published by ASX from time to time. Please make sure you include in the relevant table each class of securities issued by the entity. If you have quoted CHESS Depository Interests (CDIs) issued over your securities, include them in the table in section 5.1 and include in the table in section 5.2 any securities that do not have CDIs issued over them (and therefore are not quoted on ASX). Restricted securities should only be included in the table in section 5.1 if you are applying to have them quoted because the escrow period for the securities has expired or is about to expire. Otherwise include them in the table in section 5.2.
5.1		*Quoted +securities(total number of each +class of +securities quoted on ASX following the +quotation of the +securities the subject of this application) ASX security code and description Total number of +securities on issue CAE fully paid ordinary shares 308,048,647
		ASX security code and description	Total number of +securities on issue
		CAE fully paid ordinary shares	308,048,647
5.2		*Unquoted +securities(total number of each +class of +securities issued but not quoted on ASX): ASX security code and description Total number of +securities on issue nil
		ASX security code and description	Total number of +securities on issue
			nil

• See chapter 19 for defined terms

31 January 2020

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This appendix is not available as an online form Appendix 2A Please fill in and submit as a PDF announcement Application for quotation of +securities Part 6 – Other Listing Rule requirements

Appendix 2A

The questions in this Part should only be answered if you are an ASX Listing (ASX Foreign Exempt Listings and ASX Debt Listings do not need to complete this Part) and:

• your response to Q2.1 is “Being issued under a dividend/distribution plan” and the response to Q2.2b.2 is “No”; or

• • your response to Q2.1 is “Other”.

Note that if your response to Q2.1 is “Being issued as part of a transaction or transactions previously announced to the market in an Appendix 3B”, it is assumed that you will have provided the information referred to in this Part in the Appendix 3B.

Question No.	Question	Answer
6.1	*Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1?	Yes
6.1a	*Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Answer this question if the response to Q6.1 is “Yes”.	17 December 2020
6.1b	*Are any of the +securities being issued without +security holder approval using the entity’s 15% placement capacity under listing rule 7.1? Answer this question if the response to Q6.1 is “No”.	Yes
6.1b.1	*How many +securities are being issued without +security holder approval using the entity’s 15% placement capacity under listing rule 7.1? Answer this question if the response to Q6.1 is “No” and the response to Q6.1b is “Yes”. Please complete and separately send by email to your ASX listings adviser a work sheet in the form of Annexure B to Guidance Note 21 confirming the entity has the available capacity under listing rule 7.1 to issue that number of securities.	6,800,000
6.1c	*Are any of the +securities being issued without +security holder approval using the entity’s additional 10% placement capacity under listing rule 7.1A (if applicable)? Answer this question if the response to Q6.1 is “No”.	No
6.1c.1	*How many +securities are being issued without +security holder approval using the entity’s additional 10% placement capacity under listing rule 7.1A? Answer this question if the response to Q6.1 is “No” and the response to Q6.1c is “Yes”. Please complete and separately send by email to your ASX listings adviser a work sheet in the form of Annexure C to Guidance Note 21 confirming the entity has the available capacity under listing rule 7.1A to issue that number of securities.	N/A

Introduced 01/12/19, amended 31/01/20

• See chapter 19 for defined terms 31 January 2020

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