IRON BEAR RESOURCES LTD — Capital/Financing Update 2024

Sep 4, 2024

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ASX Announcement

5 September 2024

Consolidation and Rights Issue Timetable

Further to the announcement released by Cyclone Metals Ltd ( CLE or the Company ) on 19 July 2024, the Company provides the following update in respect to the board changes and timetable for the proposed share consolidation of twenty (20) existing shares for one (1) new shares (subject to shareholder approval), and the proposed pro-rata non-renounceable entitlement offer to eligible shareholders to raise up to $5,395,186 (before expenses) ( Rights Offer ).

The Company advises that Mr Tony Sage will transition to the role of Non-Executive Chairman effective immediately following the Annual General Meeting ( AGM ) of shareholders which is currently scheduled to be held on 31 October 2024.

Outlined below is a timetable of relevant events and dates relating to the share consolidation and Rights Offer. These events and dates are indicative only and subject to change.

Share Consolidation
Dispatch of Notice of General Meetingof the Company	1-Oct-24
Annual General Meetingto vote on Share Consolidation	31-Oct-24
Rights Offer
Announcement of the Rights Issue with ASX	13-Nov-24
Lodgement of Offer Document ASIC and ASX	13-Nov-24
Ex-date	18-Nov-24
Record Date for determining entitlements	19-Nov-24
Offer Document and entitlement and acceptance form dispatched to eligibleshareholders	22-Nov-24
Opening date of the Rights Issue	22-Nov-24
Last day to extend closing date of the Right Issue	28-Nov-24
Closing Date of the Rights Offer	3-Dec-24
Shares Quoted (Deferred Settlement Basis)	4-Dec-24
Issue Date of new securities issued under the Rights Offer	6-Dec-24
New securities issued under the Rights Offer expected to commence normal trading onASX	9-Dec-24

This announcement has been approved by the Company’s board of directors .

Cyclone Metals Ltd ASX: CLE

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