CASPIN RESOURCES LIMITED — Capital/Financing Update 2023

Apr 10, 2023

Proposed issue of securities

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Announcement Summary

Entity name

CASPIN RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

11/4/2023

The Proposed issue is:

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An offer of securities under a securities purchase plan

Total number of +securities proposed to be issued for an offer of securities under a securities purchase plan

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
CPN	ORDINARY FULLY PAID	22,479,700

+Record date

6/4/2023

Offer closing date

25/5/2023

+Issue date

1/6/2023

Refer to next page for full details of the announcement

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Part 1 - Entity and announcement details

1.1 Name of +Entity

CASPIN 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.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ABN

Registration Number 33641813587

1.3 ASX issuer code

CPN

1.4 The announcement is

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New announcement

1.5 Date of this announcement

11/4/2023

1.6 The Proposed issue is:

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An offer of +securities under a +securities purchase plan

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Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis? Yes

4A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 30/5/2023 Estimated

Comments

An ASX waiver will also be sought by the Company.

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Part 4B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

CPN : ORDINARY FULLY PAID

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

CPN : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 22,479,700

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No

Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)? No

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? Yes

Is the minimum acceptance unit based or dollar based? Dollar based ($)

Please enter the minimum acceptance value

$ 1,000

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? Yes Is the maximum acceptance unit based or dollar based? Dollar based ($)

Please enter the maximum acceptance value

$ 30,000

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Proposed issue of securities

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	Proposed issue of securities
	Describe all the applicable parcels available for this offer in number of securities or dollar value $1,000, $2,000, $5,000, $10,000, $20,000, $30,000
	Offer price details
	Has the offer price been determined?
	Yes
	In what currency will the offer What is the offer price per
	be made? +security?
	AUD - Australian Dollar AUD 0.30000
	Oversubscription & Scale back details
	Will a scale back be applied if the offer is over-subscribed?
	Yes
	Describe the scale back arrangements To be provided in the SPP Offer Document.
	Will these +securities rank equally in all respects from their issue date with the existing issued
	+securities in that class?
	Yes
Part	4C - Timetable
	4C.1 Date of announcement of +security purchase plan
	11/4/2023
	4C.2 +Record date
	6/4/2023
	4C.3 Date on which offer documents will be made available to investors
	18/4/2023
	4C.4 Offer open date
	18/4/2023
	4C.5 Offer closing date
	25/5/2023
	4C.7 +Issue date and last day for entity to announce results of +security
	purchase plan offer
	1/6/2023

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Part 4D - Listing Rule requirements

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4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements? No 4D.1a 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

4D.1b 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

Part 4E - Fees and expenses 4E.1 Will there be a lead manager or broker to the proposed offer? No 4E.2 Is the proposed offer to be underwritten? No

4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

4E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 4F - Further Information 4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue To continue its exploration programs at the Yarawindah Brook PGE-Ni-Cu Project and the Mount Squires Ni-Cu-Au Project, and provide general working capital. 4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No 4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer All countries other than Australia and New Zealand

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4F.3 URL on the entity's website where investors can download information about the proposed offer

https://www.caspin.com.au/investor-centre/asx-announcements

4F.4 Any other information the entity wishes to provide about the proposed offer

The Company will seek an ASX waiver, and shareholder approval, for the SPP.

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