IONIC RARE EARTHS LIMITED — Capital/Financing Update 2020

Mar 9, 2020

10 March 2020

The Company Announcements Office Australian Securities Exchange via electronic lodgement

Notice Under Section 708A(5)(e) of the Corporations Act

Oro Verde Limited (ABN 84 083 646 477) ( Company ) advises that on 6 March 2020, the Company issued 143,750,000 fully paid ordinary shares in the capital of the Company ( Placement Shares ) to sophisticated and professional investors, who participated in an institutional placement.

In accordance with section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ) the Company advises that:

• (a) the Placement Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• (b) this notice is being given under 708A(5)(e) of the Corporations Act;

• (c) as at the date of this notice, the Company has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) section 674 of the Corporations Act; and

• (d) as at the date of this notice, there is no information that is "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Corporations Act.

*** ENDS ***

Authorised for release by Brett Dickson, Company Secretary

Oro Verde Limited (ABN 84 083 646 477) Level 1, 34 Colin Street, West Perth, WA 6005 PO Box 493, West Perth, WA 6872 Telephone: + 61 8 9481 2555

www.oroverde.com.au