MACRO METALS LIMITED — Capital/Financing Update 2016

Dec 22, 2016

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Nigerian Subsidiary
Nigerian Subsidiary Nigerian Subsidiary
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23 December 2016

KOGI IRON LIMITED

Notice Under Section 708(5)(e) of the Corporations Act

Kogi Iron Limited (ASX: KFE – the “Company” or “Kogi”) today issued and allotted 4,630,916 fully paid ordinary shares ("Securities") in accordance with the terms of its share purchase subscription agreement with Bergen Global Opportunity Fund, LP, which was announced to the market on 10 October 2016. Below is the applicable Cleansing Notice.

Secondary Trading Exemption:

The Corporations Act 2001 (Cth) (the "Act") restricts the on-sale of securities issued without disclosure, unless the sale is exempt under Section 708 or 708A of the Act. By the Company giving this notice, a sale of the Securities noted above will fall within the exemption in section 708A(5) of the Act.

The Company hereby notifies the ASX under paragraph 708(A)(5)(e) of the Act that:

• a) The Company issued the Securities without disclosure to investors under Part 6D.2 of the Act;

• b) As at the date of this notice the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company, and section 674 of the Act; and

• c) As at the date of this notice there is no information:

• i) that has been excluded from a continuous disclosure notice in accordance with the Listing Rules; and

• ii) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

  • (1) The assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • (2) The rights and liabilities attaching to the Securities.

Yours sincerely

KOGI IRON LIMITED

Kevin Hart

Company Secretary

Unit 23, 4 Ventnor Avenue West Perth Western Australia 6005 Australia

Telephone: +61 8 9200 3456 Facsimile: +61 8 9200 3455 Website: www.kogiiron.com

Kogi Iron Limited ABN 28 001 894 033 KCM Mining Limited (Nigerian Subsidiary)

PO Box 1934 West Perth Western Australia 6872 Australia