CONICO LTD — Capital/Financing Update 2022

Aug 9, 2022

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

10 August 2022

PLACEMENT COMPLETION

Placement

Conico Ltd (“ Conico ” (“CNJ” or “the Company”) has placed (“Placement Offer”) a total of 93,750,000 fully paid ordinary shares (“Shares”) to Sophisticated Investors pursuant to s708 Corporations Act (Cwth) 2001 and Chapter 7.1 ASX Listing Rules at an issue price of $0.032 per Share for a total of $3,000,000 (before expenses of the Placement Offer).

A lead manager fee of 1% and a placement fee 5% of the value of the funds raised is payable to Peloton Capital Pty Ltd (“Peloton”) (AFSL 406040), A further 15,000,000 options to acquire Shares (exercisable at 7 cents each on or before 20 January 2024) were issued to Lead Manager Peloton Capital for acting as Lead Manager to the Placement Offer.

PLACEMENT OFFER TIMETABLE*
Trading Halt	Monday, 8 August 2022
Firm Offers Received/Completion of Placement	Tuesday 9 August 2022
Resumption of Trading	Wednesday 10 August 2022
All funds due	Friday, 12 August 2022
Shares issued	Tuesday,16 August 2022

*The above dates are indicative and subject to change.

It is the intention of the directors to apply funds from the Placement Offer as follows;

• i. Working capital;

• ii. Exploration on CNJ’s 2022 East Greenland Exploration projects, and

• iii. A 5,000m phase one RC and diamond drilling program the Mt Thirsty Co-Ni Project (Conico Ltd: 50%, Greenstone Resources Ltd 50%).

A further update on the 2022 field season in Greenland and further updates on the Mt Thirsty Joint Venture drilling which commenced on Monday 8 August 2022 will be made within the coming weeks.

Guy Le Page is a director of Conico and was authorised by the above signatory. For any queries regarding this announcement please contact Guy Le Page on +618 6380-9200.

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Guy T Le Page, FFin, MAusIMM Director

Level 15, 197 St George’s Terrace, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Website: www.conico.com.au