KING RIVER RESOURCES LIMITED — Capital/Financing Update 2020

Jul 15, 2020

Proposed issue of securities

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Announcement Summary

Entity name

KING RIVER RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Thursday July 16, 2020

The Proposed issue is:

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A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +Security Code	+Security Description	+securities to be issued
n/a	Option	33,333,335
KRR	ORDINARY FULLY PAID	66,666,669

Proposed +issue date

Monday July 27, 2020

Refer to next page for full details of the announcement

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Part 1 - Entity and announcement details

1.1 Name of +Entity

KING RIVER RESOURCES LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

ABN

Registration Number

67100714181

1.3 ASX issuer code

KRR

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Thursday July 16, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity

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No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? Yes

Details of +securities proposed to be issued

ASX +Security Code and Description

KRR : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued

66,666,669

Purpose of the issue

The funds raised will be used to bring forward the gold exploration programmes at Mt Remarkable and Tennant Creek projects (ASX announcement 16 July 2020).

Offer price details for retail security holders

In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.03000

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Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes Oversubscription & Scale back details May a scale back be applied to this event? No

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)? New class Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

Details of attaching +securities proposed to be issued
ISIN Code (if Issuer is a foreign company and +securities	are non CDIs)
Have you received confirmation from ASX that the terms	Will the entity be seeking quotation of the 'new' class of
of the proposed +securities are appropriate and	+securities on ASX?
equitable under listing rule 6.1?	Yes
No
ASX +Security CodeNew class-code to be confirmed	+Security DescriptionOption
+Security Type
Options
Maximum Number of +securities proposed to be issued
33,333,335
Offer price details for retail security holders
In what currency is the cash consideration being paid?	What is the issue price per +security?
AUD - Australian Dollar
	AUD
Oversubscription & Scale back details

May a scale back be applied to this event? No

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

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Options details

+Security Currency AUD - Australian Dollar Exercise Price Expiry date AUD 0.0600 Sunday July 31, 2022 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option KRR : ORDINARY FULLY PAID

Please provide any further information relating to the principal terms of the +securities

Part 7C - Timetable

7C.1 Proposed +issue date

Monday July 27, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

66,666,669 shares and 33,333,335 options

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

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7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Part 7F - Further Information

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

The placement options are expected to be issued on or around the same time as the Security Purchase Plan (SPP) options are to be issued (ASX announcement 23 June 2020 and 9 July 2020).

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