FORTUNA METALS LTD — Share Issue/Capital Change 2022

Jan 3, 2022

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

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Announcement Summary

Entity name

FRONTIER RESOURCES LIMITED

Date of this announcement

Tuesday January 04, 2022

The +securities the subject of this notification are:

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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	Class C Performance Shares expiring 4 January	18,750,000	04/01/2022
to be confirmed	2027
New class - code	Class D Performance Shares expiring 4 January	18,750,000	04/01/2022
to be confirmed	2027

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

FRONTIER 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

ABN

Registration number

96095684389

1.3 ASX issuer code

FNT

1.4 The announcement is

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New announcement

1.5 Date of this announcement

4/1/2022

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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

Refer "Proposed Issue of Securities lodged on 1 November 2021 - Performance Shares issue

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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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

New +securities
ASX +security codeNew class - code to be confirmed	+Security descriptionClass C Performance Shares expiring 4 January 2027
+Security type	ISIN code
Other
Date the +securities the subject of this notification were issued
4/1/2022
Will all the +securities issued in this class rank equally in all respects from their issue date?
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/asxpdf/20211116/pdf/45316f25yrxrr6.pdf

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

Partial consideration for the 100% acquisition of Dalkeith Capital Pty Ltd

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

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Issue details

Number of +securities

18,750,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Partial consideration for the 100% acquisition of Dalkeith Capital Pty Ltd

Purpose of the issue

To pay for the acquisition of an asset

Additional Details

Name of company or asset being acquired

Dalkeith Capital Pty Ltd

New +securities

ASX +security code

+Security description

New class - code to be confirmed Class D Performance Shares expiring 4 January 2027

+Security type

ISIN code

Other

Date the +securities the subject of this notification were issued

4/1/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? 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/asxpdf/20211116/pdf/45316f25yrxrr6.pdf

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

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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the market in an Appendix 3B

Partial consideration for the 100% acquisition of Dalkeith Capital Pty Ltd

Issue details

Number of +securities

18,750,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Partial consideration for the 100% acquisition of Dalkeith Capital Pty Ltd

Purpose of the issue

To pay for the acquisition of an asset

Additional Details

Name of company or asset being acquired

Dalkeith Capital Pty Ltd

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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
FNT : ORDINARY FULLY PAID	750,001,988
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
FNTAK : OPTION EXPIRING 13-AUG-2024 EX $0.02	20,000,000
FNTAB : OPTION EXPIRING 31-DEC-2024 EX $0.03	25,500,000
FNTAM : PERFORMANCE SHARES CLASS A	13,461,538
FNTAN : PERFORMANCE SHARES CLASS B	13,461,538
FNTAO : OPTION EXPIRING 31-DEC-2024 EX $0.03	7,500,000
New class - code to be confirmed : Class C Performance Shares expiring 4 January 2027	18,750,000
New class - code to be confirmed : Class D Performance Shares expiring 4 January 2027	18,750,000

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

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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

17/12/2021

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