GENMIN LIMITED — Capital/Financing Update 2021

Mar 8, 2021

Genmin Limited ACN 141 425 292 Suite 7, 1297 Hay Street WEST PERTH WA 6005 www.genmingroup.com ASX Code: GEN

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9 March 2021

Updated Pro-forma Statement of Financial Position

On 9 February 2021, Genmin Limited ( Genmin or Company ) (ASX: GEN) lodged a Prospectus with the Australian Securities and Investments Commission to raise a minimum of AUD20 million and up to a maximum of AUD30million ( Prospectus ) as part of its initial public offering and admission to the Official List of the ASX.

Genmin was successful in raising the maximum of AUD30 million and now advises the market of its updated Pro-forma Statement of Financial Position ( Statement ).

The following shows

• the consolidated historical statement of financial position as at 31 July 2020 (reviewed);

• adjustments for the subsequent events; and

• the pro-forma statement of financial position on the basis of a subscription for 88,235,294 shares at an issue price of AUD0.34 per share to raise AUD29,999,999,96 and a USD:AUD exchange rate of 0.77.

Current assetsCash & cash equivalentsTrade & other receivablesFinancial assetsPrepaymentsTotal current assetsNon-current assetsProperty, plant and equipmentExploration and evaluationexpenditureOther intangible assetsRight of Use AssetsTotal non-current assetsTOTAL ASSETS	As at31 July 2020SubsequentEventsPro formaAdjustmentsPro formabalanceUSDUSDUSDUSD525,124334,04021,081,30821,940,47244,499--44,49958--5856,678--56,678
	626,359334,04021,081,30822,041,707
	282,289--282,28923,820,912605,286-24,426,198395,285--395,285107,224--107,224
	24,605,710605,286-25,210,996
	25,232,069939,32621,081,30847,252,703

Genmin Limited ACN 141 425 292 Suite 7, 1297 Hay Street WEST PERTH WA 6005 www.genmingroup.com ASX Code: GEN

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Current liabilitiesTrade & other payablesLease liabilitiesUnsecured loans-ConvertibleNotesTotal current liabilitiesNon-current liabilitiesLease liabilitiesTotal non-current liabilitiesTOTAL LIABILITIESNET ASSETSEQUITYIssued capitalReservesNon-controlling interestAccumulated lossesTOTAL EQUITY	As at31 July 2020SubsequentEventsPro formaAdjustmentsPro formabalance
	522,45910,932(60,000)473,39185,753--85,753970,5832,177,280(3,147,863)-
	1,578,7952,188,212(3,207,863)559,144
	27,467--27,467
	27,467--27,467
	1,606,2622,188,212(3,207,863)586,611
	23,625,807(1,248,886)24,289,17146,666,092
	37,130,711(23,100)23,996,75961,104,370(481,668)(413,898)948,20452,638(62,157)--(62,157)(12,961,079)(811,888)(655,792)(14,428,759)
	23,625,807(1,248,886)24,289,17146,666,092

The accompanying notes related to the Statement can be found in Section 3.7 of the Prospectus.

The announcement has been authorised by Mr Ariti, the Managing Director of Genmin.

For more information, please contact:

GV Ariti Simon Hinsley Managing Director and CEO Investor Relations Genmin Limited NWR Communications T: +61 8 9200 5812 M: 0401 809 653 E: admin@genmingroup.com E: simon@nwrcommunications.com.au