FIRST LITHIUM LIMITED — Capital/Financing Update 2022

Apr 26, 2022

ASX Announcement

27 April 2022

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ACN 009 081 770

Update to Rights Issue Timetable

Registered Office: Level 21, 459 Collins Street Melbourne VIC 3000

Contact:

Phone: +61 (0)3 8630 3321 Email: admin@ookami.com.au

Board of Directors: John Ciganek (Non-Executive Chairman)

Joseph van den Elsen (Managing Director)

Emmanuel Correia (Non-Executive Director)

Andrew Law (Non-executive Director)

Company Secretary: Justin Mouchacca

Securities on Issue: 37,946,667 ordinary shares 3,500,000 unlisted options

Current Share Price – $0.19 (as at 26 April 2022)

Market capitalisation – $7.21m (at $0.195)

Cash at Bank – $4.46M (as at 31 December 21)

About Ookami Limited

Ookami Limited (ASX: OOK) is an ASX listed company focused on the exploration and development of resource projects in Africa. The Company’s current projects are:

• Messok East Co-Ni Project

• (located in Cameroon)

• Boulbi Project (located in Senegal)

Ookami Limited ( ASX: OOK ) ( Ookami or the Company ) provides an update in relation its fully underwritten one (1) for ten (10) pro rata non-renounceable entitlement offer of up to 3,794,667 New Shares at an issue price of A$0.18 (being the same issue price as the Placement) to raise up to approximately A$683,000 (before costs) ( Entitlement Offer ), which was announced to ASX on 22 April 2022. Participants in the Entitlement Offer will also be issued one (1) free attaching option for every three (3) New Shares issued under the Entitlement Offer ( Entitlement Offer Option ). Each Entitlement Offer Option will have the same terms and conditions as the Placement Options (being an exercise price of A$0.30 and an expiry date of 8 July 2024). The Company will, subject to the satisfaction of the requirements in ASX Listing Rule 2.5, seek quotation of the Entitlement Offer Options on ASX.

The timetable in respect to the Entitlement Offer has been updated and Shareholders are advised to disregard the previous timetable (detailed in the Company's announcement dated 22 April 2022). The updated timetable is as follows:

Event	Indicative Date*
Lodgement of Prospectus with ASIC and ASX	Wednesday, 27 April 2022
“Ex” Date (being the date that Shares start trading without Entitlements to participate in Entitlement Offer)	Tuesday, 3 May 2022
Record Date	5.00pm (AEST) Wednesday, 4 May 2022
Despatch of Prospectus and Entitlement and Acceptance Form	Thursday, 5 May 2022
Entitlement Offer opens	Thursday, 5 May 2022
Issue Placement Shares	Thursday, 5 May 2022
Last day to extend the Entitlement Offer Closing Date	Wednesday, 1 June 2022
General Meeting	Monday, 6 June 2022
Entitlement Offer closes	5.00pm (AEST) Monday, 6 June 2022
Announce results of Entitlement Offer	Wednesday, 8 June 2022
Settlement of Entitlement Offer	Thursday, 9 June 2022
Issue new securities under Entitlement Offer	Friday, 10 June 2022
ASX quotation of New Shares and New Options	Monday, 13 June 2022
Completion of the Transaction	Monday, 13 June 2022

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FURTHER INFORMATION

For corporate queries, please contact Joseph Van Den Elsen on +61 (03) 8630 3321

For other questions, you should consult your broker, solicitor, accountant, financial adviser, or other professional adviser.

-Ends-

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

For more information, please contact:

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

About Ookami Limited

The Company was admitted to the Official List (ASX code: OOK) in February 2000 and was previously focused on the operation of the Akela Platform, a fintech Software as a Service platform, and its passive 18.3% equity interest in BronTech Pty Ltd, a data exchange and identity platform.

Since July 2021, the Company has been focused on the assessment and evaluation of its 100% owned Messok East Co-Ni Project and the Boulbi Permit Joint Venture (51% earning to 70%). The Company actively seeks to identify, assess and potentially acquire complementary opportunities.

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