ECLIPSE METALS LIMITED. — Share Issue/Capital Change 2022

Nov 17, 2022

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

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Announcement Summary

Entity name

ECLIPSE METALS LIMITED.

Date of this announcement

Friday November 18, 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 exercisable at $0.015 expiring 18/11/2025	180,000,000	18/11/2022
to be confirmed
New class - code	Options exercisable at $0.05 expiring 18/11/2027	160,000,000	18/11/2022
to be confirmed

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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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

ECLIPSE METALS 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

85142366541

1.3 ASX issuer code

EPM

1.4 The announcement is

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New announcement

1.5 Date of this announcement

18/11/2022

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

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

Appendix 3B for proposed issue of new class of securities lodged 14 January 2021.

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

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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 exercisable at $0.015 expiring 18/11/2025
+Security type ISIN code
Options
Date the +securities the subject of this notification were issued
18/11/2022
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?
Yes
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02579353
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Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.01500000	18/11/2025
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description
EPM
Any other information the entity wishes to provide about the +securities the subject of this notification
Deferred Consideration for the acquisition of the Ivittuut Project, Greenland

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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

Appendix 3B was lodged on 14 January 2021.

Issue details

Number of +securities

180,000,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Deferred Consideration for the acquisition of the Ivittuut Project, Greenland

Purpose of the issue

To pay for the acquisition of an asset

Additional Details

Name of company or asset being acquired

Deferred Consideration for the acquisition of the Ivittuut Project, Greenland

New +securities

ASX +security code +Security description New class - code to be confirmed Options exercisable at $0.05 expiring 18/11/2027 +Security type ISIN code Options Date the +securities the subject of this notification were issued

18/11/2022

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? Yes

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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

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Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02579353

Options Details

+Security currency

AUD - Australian Dollar

Exercise price Expiry date AUD 0.05000000 18/11/2027

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

EPM

Any other information the entity wishes to provide about the +securities the subject of this notification

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

Appendix 3B was lodged on 14 January 2021.

Issue details

Number of +securities

160,000,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Deferred Consideration for the acquisition of the Ivittuut Project, Greenland

Purpose of the issue

To pay for the acquisition of an asset

Additional Details

Name of company or asset being acquired

Deferred Consideration for the acquisition of the Ivittuut Project, Greenland

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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
EPM : ORDINARY FULLY PAID	2,024,256,848
EPMOA : OPTION EXPIRING 17-SEP-2024	298,476,469

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
EPMAA : OPTION EXPIRING 28-MAY-2024 EX $0.015	62,500,000
EPMAB : OPTION EXPIRING 28-MAY-2026 EX $0.05	32,500,000
EPMAP : CLASS A PERFORMANCE RIGHTS 04-JUN-2024 EX NIL	11,750,000
EPMAR : CLASS C PERFORMANCE RIGHTS 04-JUN-2024 EX NIL	6,750,000
EPMAS : CLASS D PERFORMANCE RIGHTS 04-JUN-2024 EX NIL	6,750,000
New class - code to be confirmed : Options exercisable at $0.015 expiring 18/11/2025	180,000,000
New class - code to be confirmed : Options exercisable at $0.05 expiring 18/11/2027	160,000,000

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

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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

9/11/2022

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