GLOBE METALS & MINING LIMITED — Capital/Financing Update 2022

Nov 17, 2022

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18 November 2022

Globe receives commitments for $1.55 million placement

Highlights

• Globe receives firm commitments to raise $1.55 million via a placement at $0.0635 per share

• Placement was well supported by sophisticated and professional investors and will be completed in two tranches via the issue of fully paid ordinary shares under Globe’s Listing Rule 7.1 placement capacity

• Placement funds will bolster Globe’s balance sheet and enable Globe to progress with its engineering and processing finalisation studies ahead of progression to first phase production

Globe Metals & Mining Limited (ASX: GBE) (“ Globe ” or “ Company ”) is pleased to announce it has received firm commitments from sophisticated and professional investors to raise $1.55 million (before costs) via a two tranche share placement at $0.0635 per share ( Placement ). Viriathus Capital Pty Ltd has been engaged to act as Lead Manager of the Placement.

Participants in the Placement will also receive one (1) free-attaching option for every five (5) shares subscribed for in the Placement. Each option will have an exercise price of $0.13 and be exercisable on or before 30 November 2025.

The Company will use the Placement funds to undertake engineering and processing finalisation studies ahead of progression to first phase production, and additional working capital.

Commenting on the success of the Placement, Globe’s Chief Executive Officer, Grant Hudson said:

“Globe is delighted with the strong response to the Placement and strong support for the Company’s strategic direction to pursue the gas-phased chlorination processing approach for refining of its concentrates into niobium oxides and metals for the EV battery and specialist metal markets.”

Tranche One Placement

Under the first tranche of the Placement, Globe will issue approximately 16,602,365 new fully paid ordinary shares in the Company at $0.0635 per share ( New Shares ), to raise approximately $1,054,250 before costs, to sophisticated investors ( Tranche One Placement ).

The issue price of $0.0635 per share represents a discount of:

• 30% to the last closing price of $0.091 on 11 November 2022; and

• 21.6% to the 10-day volume weighted average price of $0.081 per share.

The New Shares to be issued under the Tranche One Placement will be issued under the Company’s existing placement capacity under ASX Listing Rule 7.1.

Globe Metals & Mining Limited | 45 Ventnor Avenue, West Perth WA 6005 | PO Box 1811, West Perth WA 6872 | P: +61 6118 7240 | F: +61 8 6323 0418 www.globemm.com | Email: info@globemm.com | ABN 33 114 400 609 | ASX: GBE

Tranche Two Placement

Globe will issue a further 7,874,015 New Shares via a second tranche, also at a price of $0.0635 per share to the Battery Metals Fund, a professional investor client of Viriathus Capital, to raise a further $500,000 before costs ( Tranche Two Placement ). Completion of the Tranche Two Placement is expected to occur in January 2023.

The New Shares to be issued under the Tranche Two Placement will be issued under the Company’s existing placement capacity under ASX Listing Rule 7.1.

As Lead Manager, Viriathus Capital is entitled to a placement fee of 4% of the total funds raised by it under the Placement, together with an offer management fee of 2% of all funds raised. Viriathus Capital will also be issued 1,000,000 broker options on the same terms as those offered to investors in the Placement.

Indicative Timetable[1]

Event	Date
Announcement of Placement	Friday, 18 November 2022
Settlement of Tranche One Placement	Friday, 25 November 2022
Expected date of ASX Quotation of Tranche One Placement Shares	Monday, 28 November 2022
Settlement and ASX Quotation of Tranche Two Placement Shares	Mid-January 2023

This announcement was authorised for release by the CEO of Globe.

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For further information, please contact:

Grant Hudson Paul Hardie Chief Executive Officer Company Secretary gh@globemm.com phardie@globemm.com

NOT AN OFFER OF NEW SHARES

This announcement is not an offer to sell, nor a solicitation of an offer to purchase, any securities in Globe and, further, the distribution of this announcement does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or to a 'US Person' as defined in Rule 902(k) of Regulation S of the United States Securities Act of 1933, as amended ( US Securities Act ). New shares have not been, and will not be, registered under the US Securities Act and may not be offered or sold in the United States or to ‘US Persons’ except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.

1 These dates are indicative only. Globe reserves the right to vary the dates in its absolute discretion and without notice, subject to the ASX Listing Rules, the Corporations Act, and other applicable laws. The commencement of quotation of all New Shares is subject to confirmation from ASX.