GREENWING RESOURCES LTD — Capital/Financing Update 2021

Jul 29, 2021

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

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Announcement Summary

Entity name

GREENWING RESOURCES LTD

Date of this announcement

Friday July 30, 2021

The +securities the subject of this notification are: 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 Options exercisable at $0.60 each on or before 30 2,300,000 30/07/2021 to be confirmed June 2025

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

GREENWING RESOURCES LTD

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

31109933995

1.3 ASX issuer code

GW1

1.4 The announcement is

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New announcement

1.5 Date of this announcement

30/7/2021

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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

Issue of unlisted options to directors as approved by shareholders on 15 July 2021

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

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----- Start of picture text ----- New +securitiesASX +security code +Security descriptionNew class - code to be confirmed Options exercisable at $0.60 each on or before 30 June2025+Security type ISIN codeOptionsDate the +securities the subject of this notification were issued30/7/2021Will all the +securities issued in this class rank equally in all respects from their issue date?YesHave you received confirmation from ASX that the terms of the +securities are appropriate and equitable underlisting rule 6.1?NoPlease provide a URL link for a document lodged with ASX setting out the material terms of the +securities beingissued.https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02385038-6A1037000?access_token=83ff96335c2d45a094df02a206a39ff4Options Details+Security currency Exercise price Expiry dateAUD - Australian Dollar AUD 0.60000000 30/6/2025Details of the existing class of +security that will be issued upon exercise or conversion of this new class ofcompany optionOtherDescriptionBSM Ordinary sharesAny other information the entity wishes to provide about the +securities the subject of this notificationPlease provide any further information needed to understand the circumstances in which you are notifying theissue of these +securities to ASX, including why the issue of the +securities has not been previously announced to----- End of picture text -----

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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

n/a

Issue details

Number of +securities

2,300,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Services

Purpose of the issue

Other

Additional Details

To provide incentives to directors

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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
GW1 : ORDINARY FULLY PAID	87,695,353

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
GW1AB : CONVERTIBLE NOTES	687,509,590
GW1AD : OPTION EXPIRING 31-DEC-2022 EX $0.40	302,950
New class - code to be confirmed : Options exercisable at $0.60 each on or before 30 June	2,300,000
2025

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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

15/7/2021

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