MEC RESOURCES LIMITED — Capital/Financing Update 2023

Feb 20, 2023

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ASX ANNOUNCEMENT

21 February 2023

PLACEMENT

MEC Resources Limited ( “MEC” or the “Company” ) (ASX:MMR) is pleased to announce it has raised A$154,388 before costs by way of placement of Shares to professional and sophisticated investors pursuant to section 708 of the Corporations Act 2001 (Cth) at an issue price of $0.0044 per Share under the Company’s LR7.1 placement capacity (“ Placement Shares ”).

Funds raised from this capital raising will be utilised by the Company to facilitate its compliance requirements, work associated with moving the Company towards reinstatement to trading on the ASX and general short term working capital requirements.

Placement Details

• Placement completed at an issue price of $0.0044 per Share

• Total amount raised of $154,388 before costs

• Number of fully paid ordinary shares issued 33,488,180

• Number of fully paid ordinary shares on issue following the placement is 842,651,515

• The Placement Shares are subject to holding lock pending release of a prospectus by the Company

• Placement completed by LeMessurier Securities who will receive a 6% capital raising fee (plus GST)

David Breeze (Managing Director) authorised the release of this announcement to the market.

For further information please contact: David Breeze Managing Director – MEC Resources Limited Ph: +61 409 150 953

MEC Resources Ltd

ACN 113 900 020 Level 1, 9 Bowman Street, South Perth WA 6151 T: +61 8 9217 2400 info@mecresources.com.au www.mecresources.com.au