EQ RESOURCES LIMITED — Capital/Financing Update 2022

Nov 14, 2022

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

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Announcement Summary

Entity name

EQ RESOURCES LIMITED

Date of this announcement

Tuesday November 15, 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
EQRAM	OPTION EXPIRING 07-NOV-2025 EX $0.065	4,182,580	14/11/2022

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

EQ 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

ACN

Registration number

115009106

1.3 ASX issuer code

EQR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

15/11/2022

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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 lodged on 31 October 2022 regarding issue of total 27,250,000 free unlisted options

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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has an existing ASX security code ("existing class")

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

Additional +securities in an existing class ASX +security code and description EQRAM : OPTION EXPIRING 07-NOV-2025 EX $0.065 Date the +securities the subject of this notification were issued 14/11/2022 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class Yes 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 N/A - Appendix 3B lodged 31 October 2022 regarding issue of 27,250,000 free attaching unlisted options Issue details Number of +securities 4,182,580 Were the +securities issued for a cash consideration? No Please describe the consideration being provided for the +securities One fully paid ordinary share will be issued for every one option exercised (ASX: EQR). 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
EQR : ORDINARY FULLY PAID	1,436,456,617
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

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

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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? 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?

4,182,580 unlisted options

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

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