CONICO LTD — Capital/Financing Update 2024

Mar 21, 2024

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name

CONICO LTD

Announcement Type

New announcement

Date of this announcement

22/3/2024

The Proposed issue is:

A standard pro rata issue (including non-renounceable or renounceable)

Total number of +securities proposed to be issued for a standard pro rata issue (including non-renounceable or renounceable)

enounceable)
		Maximum Number of
ASX +security code	+Security description	+securities to be issued
CNJ	ORDINARY FULLY PAID	2,708,413,782

Ex date

12/4/2024

+Record date

15/4/2024

Offer closing date

3/5/2024

Issue date

10/5/2024

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

CONICO LTD

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

49119057457

1.3 ASX issuer code

CNJ

1.4 The announcement is

New announcement

1.5 Date of this announcement

22/3/2024

1.6 The Proposed issue is:

A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is: + Non-renounceable

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Appendix 3B - Proposed issue of securities

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Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No

Part 3B - 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

CNJ : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? No Yes

Details of +securities proposed to be issued

ASX +security code and description

CNJ : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) The quantity of additional +securities For a given quantity of +securities to be issued held

2 3

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Appendix 3B - Proposed issue of securities

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What will be done with fractional Maximum number of +securities entitlements? proposed to be issued (subject to rounding) Fractions rounded up to the next 2,708,413,782 whole number Offer price details for retail security holders In what currency will the offer be What is the offer price per +security made? for the retail offer? AUD - Australian Dollar AUD 0.00100 Oversubscription & Scale back details Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes Describe the limits on over-subscription

Qualifying Shareholders may wish to apply for additional New Shares in excess of their entitlement under the entitlement offer may do so

Will a scale back be applied if the offer is over-subscribed? Yes Describe the scale back arrangements

the Shortfall will be placed at the discretion of the Company

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Details of company options where holders entitled to participate in the offer

ASX +security code and description

CNJO : OPTION EXPIRING 31-DEC-2026

Date Option must be exercised by

11/4/2024

Part 3C - Timetable

3C.1 +Record date 15/4/2024

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Appendix 3B - Proposed issue of securities

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3C.2 Ex date 12/4/2024 3C.4 Record date 15/4/2024 3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue 17/4/2024 3C.6 Offer closing date 3/5/2024 3C.7 Last day to extend the offer closing date 30/4/2024 3C.9 Trading in new +securities commences on a deferred settlement basis 6/5/2024 3C.11 +Issue date and last day for entity to announce results of +pro rata issue 10/5/2024 3C.12 Date trading starts on a normal T+2 basis 13/5/2024 3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis 15/5/2024 Part 3E - Fees and expenses 3E.1 Will there be a lead manager or broker to the proposed offer? Yes 3E.1a Who is the lead manager/broker? RM Corporate Finance Pty Ltd (AFSL 315235) 3E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? 1% Lead Manager fee and a placement fee of 5% on any shortfall placed 3E.2 Is the proposed offer to be underwritten? No 3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No 3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer ASX, Share Registry and Lawyers fees expected to be approximately $40,000.

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Appendix 3B - Proposed issue of securities

Part 3F - Further Information

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3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue i. Working capital. ii. Exploration expenses associated with the Company¿s east Greenland projects iii. Further exploration, study and maintenance costs associated with the Mt Thirsty project 3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue? No 3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No 3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue Denmark, Hong Kong, Iceland, Japan, Malaysia, Netherlands, Paraguay, Portugal, Singapore, United Arab Emirates, United Kingdom 3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities Yes 3F.5a Please provide further details of the offer to eligible beneficiaries

The custodian or nominee must have an address in Australia or New Zealand and may only distribute the offer document to beneficiaries located in Australia or New Zealand

3F.6 URL on the entity's website where investors can download information about the proposed issue

3F.7 Any other information the entity wishes to provide about the proposed issue

3F.8 Will the offer of rights under the rights issue be made under a +disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? No 3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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