LCL RESOURCES LIMITED — Capital/Financing Update 2022

Nov 28, 2022

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

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Announcement Summary

Entity name

LOS CERROS LIMITED

Date of this announcement

Tuesday November 29, 2022

The +securities the subject of this notification are: Other

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 Expiring 29 Nov 2026 Ex 5.00 cents	25,000,000	29/11/2022
to be confirmed

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

LOS CERROS 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

43119759349

1.3 ASX issuer code

LCL

1.4 The announcement is

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New announcement

1.5 Date of this announcement

29/11/2022

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

Options for services

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

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New +securities
ASX +security code +Security description
New class - code to be confirmed Options Expiring 29 Nov 2026 Ex 5.00 cents
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ASX +security code New class - code to be confirmed	+Security description Options Expiring 29 Nov 2026 Ex 5.00 cents
+Security type	ISIN code
Options
Date the +securities the subject of this notification were issued
29/11/2022
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
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	Please provide a URL link for a document lodged with ASX setting	out the material terms of the +securities being
issued.
Options Details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.05000000	29/11/2026
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description
Options to Euroz Hartleys Limited
Any other information the entity	wishes to provide about the +securities the subject of this notification

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

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Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Underlying commitment has just arisen

Issue details

Number of +securities

25,000,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Future services

Purpose of the issue

To pay for services rendered

Additional Details

Part of the consideration under an agreement for services

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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
LCL : ORDINARY FULLY PAID	715,713,741

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
LCLAF : PERFORMANCE RIGHTS EXPIRING 31-DEC-2024	6,200,000
LCLAG : PERFORMANCE RIGHTS EXPIRING 31-DEC-2024	6,200,000
LCLAA : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	6,250,000
LCLAW : OPTION EXPIRING 30-SEP-2024 EX 13.5C	10,000,000
LCLAAB : PERFORMANCE RIGHTS	1,965,000
New class - code to be confirmed : Options Expiring 29 Nov 2026 Ex 5.00 cents	25,000,000

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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? 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?

25,000,000

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)? No

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