FIRST LITHIUM LIMITED — Board/Management Information 2021

Apr 14, 2021

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ENGINE COMPO

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ASX ANNOUNCEMENT

15 April 2021

Appointment of Managing Director

Ookami Limited ( ASX: OOK ) ( Ookami or the Company ) is pleased to announce that it has executed a Consulting Agreement ( Agreement ) appointing Mr Joseph van den Elsen as Managing Director of the Company effective 14 April 2021. Mr van den Elsen will oversee the completion of the proposed acquisition of the Boulbi and Messok East Projects, as announced to ASX on 2 March 2021, and thereafter lead the Company’s exploration and business development efforts.

In accordance with the Agreement, Mr van den Elsen will receive an annual fee of $180,000. Either the Company or Mr van den Elsen can terminate the Agreement by providing 3 months notice in writing.

In accordance with shareholder approval sought at the Company’s general meeting held on 14 April 2021, Mr van den Elsen will be granted the following Management Performance Options:

Class of Management	Number of options (post	Exercise Price Per	Expiry Date	Vesting Condition
Performance	consolidation)	Option
Option
Class A	600,000	$0.001	24 months	VWAP of Shares for a period of
Management			from the date	20 consecutive trading days on
Performance			of issue	which Shares are traded
Options				(disregarding any intervening
				days on which no trades
				occurred, if any) of $0.40
Class B	600,000	$0.001	24 months	VWAP of Shares for a period of
Management			from the date	20 consecutive trading days on
Performance			of issue	which Shares are traded
Options				(disregarding any intervening
				days on which no trades
				occurred, if any) of $0.80

This announcement has been authorised for release by the Board of OOK.

For more information, please contact:

Justin Mouchacca Company Secretary P: +61 (0)3 8630 3321