Kincora Copper Limited — Capital/Financing Update 2021

Oct 6, 2021

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

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Announcement Summary

Entity name

KINCORA COPPER LIMITED

Date of this announcement

Thursday October 07, 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	Unquoted Options, Ex Price A$0.20 to 01Apr23	7,580,575	01/10/2021
to be confirmed	and A$0.30 to 01Apr24, Expiry 1Apr24

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

KINCORA COPPER 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

ARBN

Registration number

645457763

1.3 ASX issuer code

KCC

1.4 The announcement is

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New announcement

1.5 Date of this announcement

7/10/2021

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

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 Unquoted Options, Ex Price A$0.20 to 01Apr23 and A$0.30 to 01Apr24, Expiry 1Apr24
+Security type	ISIN code
Options

Date the +securities the subject of this notification were issued

1/10/2021

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
CAMERON MCRAE	CAMERON MCRAE	1,993,509
JONATHAN SPRING	JONATHAN SPRING	1,767,581
JOHN HOLLIDAY	JOHN HOLLIDAY	1,003,824
RAYHAN NADARAJAH	RAYHAN NADARAJAH	979,232
LEWIS MARKS	LEWIS MARKS	268,912

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

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

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

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Options Details

+Security currency

AUD - Australian Dollar

Exercise price AUD 0.20000000

Expiry date 1/4/2024

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

Other

Description

Unquoted Options, Ex Price A$0.20 to 01Apr23 and A$0.30 to 01Apr24, Expiry 1Apr24 conditional on approval of EIP

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

IEP to be released to the market upon AGM.

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

The options cannot be exercised until shareholder and Exchange approval for the EIP have been received.

Issue details

Number of +securities

7,580,575

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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
KCC : CHESS DEPOSITARY INTERESTS 1:1	71,976,435

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
KCCAD : OPTION EXPIRING 27-SEP-2022 EX CAD$0.75	1,090,728
KCCAE : OPTION EXPIRING 30-APR-2022 EX CAD$0.33	118,810
KCCAF : OPTION EXPIRING 30-APR-2023 EX CAD$0.75	118,810
KCCAK : WARRANTS EXPIRING 26-AUG-2022 EX CAD$0.75	17,763,962
KCCAG : OPTION EXPIRING 30-APR-2023 EX CAD$0.26	757,661
KCCAH : OPTION EXPIRING 08-JAN-2024 EX CAD$0.48	2,004,506
KCCAL : COMMON SHARES	48,735,592
New class - code to be confirmed : Unquoted Options, Ex Price A$0.20 to 01Apr23 and	7,580,575
A$0.30 to 01Apr24, Expiry 1Apr24

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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? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

7,580,575

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? N/A

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