EQ RESOURCES LIMITED — Capital/Financing Update 2022

Nov 20, 2022

Application for quotation of +securities

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Announcement Summary

Entity name

EQ RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Monday November 21, 2022

The +securities to be quoted are:

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Other

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
EQR	ORDINARY FULLY PAID	6,300,000	18/11/2022

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

EQ RESOURCES LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ABN

Registration number 77115009106

1.3 ASX issuer code

EQR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

21/11/2022

Application for quotation of +securities

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Application for quotation of +securities

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Part 2 - Type of Issue

2.1 The +securities to be quoted are:

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Other

2.2 The +securities to be quoted are:

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Additional +securities in a class that is already quoted on ASX ("existing class")

2.3c Have these +securities been offered under a +disclosure document or +PDS?

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No

2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Fully paid ordinary shares and free attaching unlisted options being issued to Convertible Note holders for the annual interest payment of the Convertible Notes. The shares and free attaching options are being issued on the same terms as the recently announced Placement at a deemed issue price of $0.04 (4 cents) per share, with one (1) free attaching unlisted option for every four (4) New Shares issued, exercisable at $0.065 (6.5 cents) on or before 21 November 2025.

2.4 Any on-sale of the +securities to be quoted 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)

Application for quotation of +securities

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Application for quotation of +securities

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Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Additional +securities to be quoted in an existing class

ASX +security code and description

EQR : ORDINARY FULLY PAID

Issue date

18/11/2022

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

Issue details

Number of +securities to be quoted

6,300,000

Are the +securities being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Shares issued at a deemed issue price of $0.04 per share, with 1 free attaching unlisted option for every 4 New Shares issued, exercisable at $0.065 on or before 21 November 2025.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

252,000.000000

Any other information the entity wishes to provide about the +securities to be quoted

The purpose(s) for which the entity is issuing the securities

Other

Please provide additional details

Fully paid ordinary shares and free attaching unlisted options being issued to Convertible Note holders for the annual interest payment of the Convertible Notes. The shares and free attaching options are being issued on the same terms as the recently announced Placement at a deemed issue price of $0.04 (4 cents) per share, with one (1) free attaching unlisted option for every four (4) New Shares issued, exercisable at $0.065 (6.5 cents) on or before 21 November 2025.

Application for quotation of +securities

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Application for quotation of +securities

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Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital 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 on ASX following the +quotation of the +securities subject of this application)

	Total number of
ASX +security code and description	+securities on issue
EQR : ORDINARY FULLY PAID	1,459,486,938

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
EQRAK : OPTION EXPIRING 17-SEP-2023 EX $0.065	25,000,000
EQRAL : CONVERTIBLE NOTES	4,000,000
EQRAB : OPTION EXPIRING 05-MAY-2023 EX 4C	2,000,000
EQRAC : OPTION EXPIRING 05-MAY-2023 EX 6C	3,000,000
EQRAJ : OPTION EXPIRING 23-JUN-2024 EX $0.06	10,000,000
EQRAI : OPTION EXPIRING 23-JUN-2024 EX $0.06	12,000,000
EQRAF : OPTION EXPIRING 01-FEB-2024 EX $0.04	2,000,000
EQRAM : OPTION EXPIRING 07-NOV-2025 EX $0.065	15,332,346
EQRAD : OPTION EXPIRING 01-JUL-2023 EX 4C	2,000,000
EQRAE : OPTION EXPIRING 01-JUL-2023 EX 6C	3,000,000
EQRAH : OPTION EXPIRING 25-MAY-2024 EX $0.06	22,000,000
EQRAG : OPTION EXPIRING 19-MAR-2024 EX $0.0432	30,000,000

Application for quotation of +securities

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Application for quotation of +securities

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Part 5 - Other Listing Rule requirements

5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does 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? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

6,300,000 fully paid ordinary shares

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

Application for quotation of +securities

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