LOYAL METALS LTD — Capital/Financing Update 2023

Feb 19, 2023

Application for quotation of +securities

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Announcement Summary

Entity name

LOYAL LITHIUM LIMITED

Announcement Type

New announcement

Date of this announcement

Monday February 20, 2023

The +securities to be quoted are:

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+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
LLI	ORDINARY FULLY PAID	7,000,000	16/02/2023

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

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Part 1 - Entity and announcement details

1.1 Name of entity

LOYAL LITHIUM LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ACN

Registration number 644564241

1.3 ASX issuer code

LLI

1.4 The announcement is

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New announcement

1.5 Date of this announcement

20/2/2023

Application for quotation of +securities

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Application for quotation of +securities

Part 2 - Type of Issue

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2.1 The +securities to be quoted are:

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+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
16-Feb-2023 11:21	New - Proposed issue of securities - LLI	A placement or other type of issue

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

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No

Application for quotation of +securities

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Application for quotation of +securities

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Part 3A - number and type of +securities to be quoted where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description LLI : ORDINARY FULLY PAID

Issue date

16/2/2023

Distribution Schedule

Provide a distribution schedule for the new +securities according to the categories set out in the left hand column - including the number of recipients and the total percentage of the new +securities held by the recipients in each category.

		Total percentage of +securities held
Number of +securities held	Number of holders	For example, to enter a value of 50%
		please input as 50.00
1 - 1,000		%
1,001 - 5,000		%
5,001 - 10,000		%
10,001 - 100,000		%
100,001 and over		%

Application for quotation of +securities

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Application for quotation of +securities

Issue details

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Number of +securities to be quoted

7,000,000

Are the +securities being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Issued at a Deemed Issue Price of $0.45 Issued In consideration for the purchase of the remaining 20% of the Scotty Lithium Project

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.450000

Any other information the entity wishes to provide about the +securities to be quoted

The Shares will be subject to a voluntary ESCROW (3,499,999 Shares expiring 3 months from the date of their issue and 3,500,001 Shares expiring 6 months from the date of their issue).

Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital 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 on ASX following the +quotation of the +securities subject of this application)

	Total number of
ASX +security code and description	+securities on issue
LLI : ORDINARY FULLY PAID	59,490,000
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
LLIAI : OPTION EXPIRING 25-JUL-2025 EX $0.35	1,000,000
LLIAJ : PERFORMANCE RIGHTS	3,000,000
LLIAA : ORDINARY FULLY PAID RESTRICTED	3,000,001
LLIAB : OPTION EXPIRING 06-JUL-2024 RESTRICTED	21,400,000
LLIAC : OPTION EXPIRING 06-JUL-2024 EX $0.30	900,000
LLIAD : OPTION EXPIRING 02-MAY-2025 EX $0.45	500,000

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

Application for quotation of +securities

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