LIGHTNING MINERALS LTD — Share Issue/Capital Change 2023

Apr 16, 2023

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

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Announcement Summary

Entity name

LIGHTNING MINERALS LTD

Date of this announcement

Monday April 17, 2023

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	Unlisted Options with an exercise price of 30 cents	80,000	06/04/2023
to be confirmed	per Option expiring 6 April 2027.
New class - code	Unlisted Options with an exercise price of 40 cents	110,000	06/04/2023
to be confirmed	per Option expiring 6 April 2027.
New class - code	Unlisted Options with an exercise price of 50 cents	140,000	06/04/2023
to be confirmed	per Option expiring 6 April 2027.

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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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

LIGHTNING MINERALS LTD

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ACN

Registration number

656005122

1.3 ASX issuer code

L1M

1.4 The announcement is

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New announcement

1.5 Date of this announcement

17/4/2023

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

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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 +Security description New class - code to be confirmed Unlisted Options with an exercise price of 30 cents per Option expiring 6 April 2027. +Security type ISIN code Options Date the +securities the subject of this notification were issued 6/4/2023 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
Jarrad Woodland	Jarrad Woodland	50,000
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. https://www.asx.com.au/asxpdf/20230417/pdf/45nqsv65gn3yxl.pdf

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.30000000 6/4/2027 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

Ordinary fully paid shares (ASX:L1M)

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

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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://www.asx.com.au/asxpdf/20230417/pdf/45nqsv65gn3yxl.pdf

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

Issue details

Number of +securities

80,000

ASX +security code New class - code to be confirmed	+Security description Unlisted Options with an exercise price of 40 cents per Option expiring 6 April 2027.
+Security type	ISIN code
Options

Date the +securities the subject of this notification were issued 6/4/2023

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
Jarrad Woodland	Jarrad Woodland	75,000

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.

https://www.asx.com.au/asxpdf/20230417/pdf/45nqsv65gn3yxl.pdf

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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 Expiry date AUD 0.40000000 6/4/2027

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

Other

Description

Ordinary fully paid shares (ASX:L1M)

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://www.asx.com.au/asxpdf/20230417/pdf/45nqsv65gn3yxl.pdf

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

Issue details

Number of +securities

110,000

ASX +security code +Security description

New class - code to be confirmed Unlisted Options with an exercise price of 50 cents per Option expiring 6 April 2027.

+Security type

ISIN code

Options

Date the +securities the subject of this notification were issued

6/4/2023

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?

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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

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Yes

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

Name of KMP	Name of registered holder	Number of +securities
Jarrad Woodland	Jarrad Woodland	100,000

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.

https://www.asx.com.au/asxpdf/20230417/pdf/45nqsv65gn3yxl.pdf

Options Details

+Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.50000000 6/4/2027

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

Other

Description

Ordinary fully paid shares (ASX:L1M)

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://www.asx.com.au/asxpdf/20230417/pdf/45nqsv65gn3yxl.pdf

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

Issue details

Number of +securities

140,000

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Part 4 - +Securities on issue

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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
L1M : ORDINARY FULLY PAID	37,271,249
L1MO : OPTION EXPIRING 13-MAR-2028	26,728,543
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
L1MAA : ORDINARY FULLY PAID RESTRICTED	1,196,951
L1MAB : ORDINARY FULLY PAID RESTRICTED	400,000
L1MAC : ORDINARY FULLY PAID RESTRICTED	350,000
L1MAD : ORDINARY FULLY PAID RESTRICTED	100,000
L1MAE : ORDINARY FULLY PAID RESTRICTED	1,500,000
L1MAF : ORDINARY FULLY PAID RESTRICTED	7,638,970
L1MAG : OPTION EXPIRING 14-NOV-2026 RESTRICTED	5,000,000
L1MAH : OPTION EXPIRING 27-SEP-2027 RESTRICTED	5,200,000
L1MAI : PERFORMANCE RIGHTS RESTRICTED	4,800,000
New class - code to be confirmed : Unlisted Options with an exercise price of 30 cents per	80,000
Option expiring 6 April 2027.
New class - code to be confirmed : Unlisted Options with an exercise price of 40 cents per	110,000
Option expiring 6 April 2027.
New class - code to be confirmed : Unlisted Options with an exercise price of 50 cents per	140,000
Option expiring 6 April 2027.

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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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?

330,000

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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