EASTERN RESOURCES LIMITED — Capital/Financing Update 2022

Oct 5, 2022

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

EASTERN RESOURCES LIMITED

Date of this announcement

Thursday October 06, 2022

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Options exerciseable at $0.05 and expiring 30	6,972,416	06/10/2022
to be confirmed	September 2025

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

EASTERN RESOURCES LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

70126678037

1.3 ASX issuer code

EFE

1.4 The announcement is

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New announcement

1.5 Date of this announcement

6/10/2022

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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Other

Please specify

Options exerciseable at $0.05 per option and expiring 30 September 2025

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

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New +securities
ASX +security code +Security description
New class - code to be confirmed Options exerciseable at $0.05 and expiring 30 September
2025
+Security type ISIN code
Options
Date the +securities the subject of this notification were issued
6/10/2022
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
listing rule 6.1?
No
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
NA
Options Details
+Security currency Exercise price Expiry date
AUD - Australian Dollar AUD 0.05000000 30/9/2025
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description
EFE - fully paid ordinary shares
Any other information the entity wishes to provide about the +securities the subject of this notification
NA
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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B NA

Issue details

Number of +securities 6,972,416

Were the +securities issued for a cash consideration? No

Please describe the consideration being provided for the +securities 1:5 free option - refer ASX Announcement 27 September 2022

Purpose of the issue

To raise additional working capital

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
EFE : ORDINARY FULLY PAID	1,009,163,376
EFEOA : OPTION EXPIRING 31-JAN-2023	121,241,662

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
EFEAX : OPTION EXPIRING 23-DEC-2023 EX $0.08	1,500,000
EFEAU : OPTION EXPIRING 12-MAY-2023 EX $0.0142	16,000,000
EFEAV : OPTION EXPIRING 30-SEP-2023 EX $0.04	20,950,000
New class - code to be confirmed : Options exerciseable at $0.05 and expiring 30	6,972,416
September 2025

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? Yes

5.2a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

7/12/2021

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