COOPER METALS LIMITED — Capital/Financing Update 2023

Sep 3, 2023

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4 September 2023

ASX Announcement

Results of Share Purchase Plan

Cooper Metals Limited (ASX: CPM) ( Company ) is pleased to announce that its Share Purchase Plan ( SPP ) closed on 28 August 2023 ( SPP Offer ).

The SPP Offer offered eligible shareholders as registered on 2 August 2023, the ability to subscribe for specific parcels of SPP Shares up to a maximum of $30,000 at an issue price of $0.125 per SPP Share (refer to the announcement made on the ASX Platform dated 14 August 2023) ( SPP Shares ). The SPP Offer will raise a maximum of up to $750,000 (before costs).

Consistent with the recently completed Placement (refer to the announcement made on the ASX Platform dated 3 August 2023), participants in the SPP will also receive (subject to shareholder approval) one (1) free-attaching option (exercisable at $0.25 and expiring 3 years from the date of issue) ( SPP Options ) for every (2) SPP Shares subscribed for and issued. The SPP Options will be issued at the same time as the Placement Options following shareholder approval at the General Meeting and lodgement of a Prospectus. Subject to compliance with the ASX Listing Rules, the Company will seek application to ASX for quotation of the SPP Options.

Total applications for 1,952,000 SPP Shares were received under the SPP Offer, resulting in a shortfall of 4,048,000 SPP Shares ( Shortfall ). The Company will seek shareholder approval at the General Meeting to place the Shortfall and SPP Options, including for the issue of 40,000 SPP Options to Managing Director, Ian Warland arising from his participation in the SPP Offer.

This release is authorised by the Board of Directors of Cooper Metals Limited.

Mr Alan Armstrong Company Secretary Cooper Metals Limited Telephone: +61 (08) 9481 0389