IONIC RARE EARTHS LIMITED — Share Issue/Capital Change 2021

Dec 9, 2021

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

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Announcement Summary

Entity name

IONIC RARE EARTHS LIMITED

Date of this announcement

Friday December 10, 2021

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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 $0.064, expire 30	38,000,000	09/12/2021
to be confirmed	November 2024

Refer to next page for full details of the announcement

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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

IONIC RARE EARTHS LIMITED

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

84083646477

1.3 ASX issuer code

IXR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

10/12/2021

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

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

ASX +security code New class - code to be confirmed	+Security description Options exercisable at $0.064, expire 30 November 2024
+Security type	ISIN code
Options

Date the +securities the subject of this notification were issued 9/12/2021

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

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Mr Tim Harrison	Timel Holdings Pty Ltd ,TMH Holdings A/C>	10,000,000
Mr Trevor Benson	Mr Trevor Bruce Benson	5,000,000
Mr Maxwell McGarvie	Mr Maxwell Everett McGarvie	3,000,000

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

https://wcsecure.weblink.com.au/pdf/IXR/02439784.pdf

Options Details

+Security currency

AUD - Australian Dollar

Exercise price Expiry date AUD 0.06400000 30/11/2024

Expiry date

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

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

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Description

Ordinary Fully Paid

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://wcsecure.weblink.com.au/pdf/IXR/02439784.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

Issue details

Number of +securities

38,000,000

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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
IXR : ORDINARY FULLY PAID	3,392,399,514

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
IXRAR : OPTION EXPIRING 28-FEB-2024 EX $0.06	35,000,000
IXRAE : OPTION EXPIRING 30-NOV-2022 EX 1.8C	100,000,000
IXRAQ : OPTION EXPIRING 30-NOV-2023 EX $0.0215	40,000,000
New class - code to be confirmed : Options exercisable at $0.064, expire 30 November 2024	38,000,000

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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? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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