CASSIUS MINING LIMITED — Capital/Financing Update 2017

Mar 23, 2017

24 March 2017

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ASX ANNOUNCEMENT

Information Required Under ASX Listing Rule 3.10.5A

Further to the announcement dated 15 March 2017 Gulf Industrials Limited (“Gulf”) provides the following information as required under ASX Listing Rule 3.10.5A:

• a) The dilutive effect of the placement on existing shareholders is as follows:

Number of shares on issue prior to the Placement: 3,666,196,452

Number of shares on issue prior to the Placement: 3,666,196,452
Placement issued under ListingRule 7.1A –(6,250,000 shares)	0.17%
Total dilution as a result of theplacement	0.17%

Number of shares on issue following the placement: 3,672,446,452

In relation to the portion of shares issued under Listing Rule 7.1A, the percentage of the post‐placement capital held (in aggregate) is as follows:

• pre‐placement security holders who did not participate in the placement – 100%

• pre‐placement security holders who did participate in the placement – 0%

• participants in the placement who were not previously security holders – 100%

• b) Gulf issued the shares as it was considered to be the most efficient and expedient method for raising the funds required to achieve the company’s objectives.

• c) No underwriting arrangements were in place for the placement.

• d) Other costs associated with this placement will total approximately $1,000.

FURTHER INFORMATION

Wayne Kernaghan

t | 02 8226 3323

Level 7 99 Macquarie Street Sydney NSW 2000 ●PO Box R383 Royal Exchange NSW 1225 Australia t +61 2 8226 3323 ● f +61 2 8226 3304

ACN 115 027 033

www.gulfindustrials.com.au