DEVELOP GLOBAL LIMITED — Regulatory Filings 2021

May 6, 2021

Proposed issue of securities

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Update Summary

Entity name

VENTUREX RESOURCES LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

Friday May 7, 2021

Reason for update to a previous announcement

update of timetable

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

VENTUREX 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.

1.2 Registered Number Type Registration Number ABN 28122180205

1.3 ASX issuer code

VXR

1.4 The announcement is

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Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

update of timetable

1.4b Date of previous announcement(s) to this update

Wednesday February 24, 2021

1.5 Date of this announcement

Friday May 7, 2021

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval Wednesday June 9, 2021 Actual

Comments

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No Yes ASX +security code +Security description New class-code to be confirmed Unlisted Director Options

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+Security type

Options

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Number of +securities proposed to be issued
17,000,000
Reason for the update of 'Maximum Number of +securities proposed to be issued'
Offer price details
Are the +securities proposed to be issued being issued for a cash consideration?
Yes
In what currency is the cash What is the issue price per
consideration being paid? +security?
AUD - Australian Dollar AUD 0.15000
Will all the +securities issued in this class rank equally in all respects from
their issue date?
Yes
Options details
+Security currency Exercise price Expiry date
AUD - Australian Dollar AUD 0.1500 Monday June 17, 2024
Details of the type of +security that will be issued if the option is exercised
VXR : ORDINARY FULLY PAID
Number of securities that will be issued if the option is exercised
17,000,000
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Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. www.venturexresources.com

Part 7C - Timetable

7C.1 Proposed +issue date Thursday June 17, 2021

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Part 7D - Listing Rule requirements

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7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes 7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Wednesday June 9, 2021 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities Unlisted Director Options 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No 7F.2 Any other information the entity wishes to provide about the proposed issue

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