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IONDRIVE LIMITED Capital/Financing Update 2018

Aug 19, 2018

65132_rns_2018-08-19_d06fb69a-3bae-48cc-86e2-3539a4148f17.pdf

Capital/Financing Update

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==> picture [585 x 90] intentionally omitted <==

20 August 2018

The Manager Company Announcements Office ASX Limited

INFORMATION REQUIRED UNDER ASX LISTING RULE 3.10.5A

Southern Gold Ltd provides the following information required under ASX Listing Rule 3.10.5A.

a) Dilution to existing holders:

The dilutive effect of the 7.1A placement of 647,668 fully paid ordinary shares on existing shareholders is 1.3%

Further details of the approximate percentage of the issued capital post the placement held by preplacement shareholders and the new shareholders are as follows;

Shareholder category	Holding preplacement	Holding postplacement
Pre-placement securityholders who did notparticipate in theplacement	100%	98.7%
Pre-placement securityholders who didparticipate in theplacement	-	-
Participants in theplacement who were notpreviouslysecurityholders	-	1.3%
Total	100%	100%

b) The Company has resolved to utilise the capacity available to it under ASX Listing Rule 7.1A. The Company considers this to be the most effective and expedient method for raising funds to meet working capital requirements;
c) No underwriting arrangement were in place for the placement; and
d) No fees were incurred in connection with the placement.