GOLDEN DEEPS LIMITED. — Capital/Financing Update 2020

Aug 11, 2020

Proposed issue of securities

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Announcement Summary

Entity name

GOLDEN DEEPS LIMITED.

Announcement Type

New announcement

Date of this announcement

Wednesday August 12, 2020

The Proposed issue is: A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
n/a	Options to acquire fully paid shares with exercise price of	187,680,000
	$0.0125 at any time up to 30 June 2021.
GED	ORDINARY FULLY PAID	187,680,000
Proposed +issue date
Monday August 17, 2020

Refer to next page for full details of the announcement

Proposed issue of securities

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

GOLDEN DEEPS LIMITED.

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

ABN

Registration Number

12054570777

1.3 ASX issuer code

GED

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Wednesday August 12, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval Saturday October 31, 2020 Estimated No

Comments

Part of the securities being issued, being 93,840,000 options, are subject to receiving shareholder approval at the Company's next General Meeting or AGM.

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? Yes

Details of +securities proposed to be issued

ASX +security code and description

GED : ORDINARY FULLY PAID

Number of +securities proposed to be issued

187,680,000

Offer price details

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Proposed issue of securities

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Are the +securities proposed to be issued being issued for a cash consideration? Yes

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.01250

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

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Yes

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)? New class

Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms Will the entity be seeking quotation of the 'new' class of of the proposed +securities are appropriate and +securities on ASX? equitable under listing rule 6.1? Yes Yes

ASX +security code +Security description New class-code to be confirmed Options to acquire fully paid shares with exercise price of $0.0125 at any time up to 30 June 2021.

+Security type

Options

Number of +securities proposed to be issued

187,680,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Free attaching options to the shares being issued at $0.0125 each.

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Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

0.00000008

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details

+Security currency

AUD - Australian Dollar

Exercise price Expiry date AUD 0.0150 Wednesday June 30, 2021

Details of the type of +security that will be issued if the option is exercised

GED : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

1

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

• • https://www.asx.com.au/asx/share price research/company/GED

Part 7C - Timetable

7C.1 Proposed +issue date

Monday August 17, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 Saturday October 31, 2020

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7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

Peak Asset Management.

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

6% fee on capital raised plus 26,000,000 options to acquire fully paid ordinary shares with an exercise price of $0.015 at any time up to 30 June 2021.

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

To raise funds for exploration and develop on existing or future assets, general working and other capital.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

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