MEC RESOURCES LIMITED — Capital/Financing Update 2024

Nov 10, 2024

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ASX ANNOUNCEMENT

8 November 2024

TIMETABLE UPDATE & ASX REINSTATEMENT PROCESS

MEC Resources Limited ( “MEC” or the “Company” ) (ASX:MMR) previously announced an updated timetable and progress in relation to ASX reinstatement[1] .

By way of further update, the Company advises that all required information in relation to the Company’s reinstatement conditions has been provided to the ASX and is currently under review by the ASX. The Company previously advised it was expecting to issue all shares and options on Wednesday, 6 November 2024 however it now expects to complete the issue of all securities before the end of next week, following formal approval from the ASX and reinstatement to trading status.

Update - Shares and Options to be Issued

As set out in the announcement dated 30 October 2024, a total of 163,325,361 Shares and 81,662,681 New Options will be issued under the Offer, and 365,904,920 Shares and 182,952,460 New Options issued under the Shortfall Offer.

Following final reconciliation and cleared funds an additional 2,500,000 Shares and 1,250,000 New Options will also be issued under the Offer and 41,051,088 Shares and 20,525,544 New Options are to be issued under the Shortfall Offer.

An updated table set out all shares and options to be issued as follows:

Ofer Results	Number of New Shares	Number of New Optons	Subscripton Funds $
Maximum Shares and Optons ofered	978,972,711	489,486,356	$4,894,864
Enttlement Shares and Optons Accepted	165,825,361	82,912,681	$829,127
Shortall Shares and Optons Taken Up	406,956,008	203,478,004	$2,034,780

1 ASX release 4 November 2024 – Timetable Update & ASX Reinstatement Process and ASX Release 30 October 2024 – Close of Entitlement Offer & Notice of Shortfall

MEC Resources Ltd

ACN 113 900 020

Level 1, 9 Bowman Street, South Perth WA 6151 T: +61 142 593 363 info@mecresources.com.au

www.mecresources.com.au

Total Applicatons by Eligible Shareholders	572,781,369	286,390,685	$2,863,907
Ofset Shares1	116,331,067	58,165,534	-
Cleansing Shares2	50,000	-	$250
Total	689,162,436	344,556,218	$2,864,157
Balance Shortall Shares & Optons to be placed	289,810,275	144,930,138	$1,449,052

Notes:

1. As set out in Section 2 of the Prospectus, the Director/Officers fee offsets, and Advent Debt offset are in addition to the amount raised under the Offer. The issue of these Offset Shares will extinguish Company liabilities of $581,655.

2. As set out in Section 4.9 of the Prospectus.

Reinstatement to trading on the ASX

Based on these elements and final approval from the ASX, reinstatement to trading on the ASX expected to be on or about Thursday, 14 November 2024.

The Directors wish to thank our shareholders for their continued support and patience they have shown during this Entitlement Offer.

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

For further information please contact: David Breeze Managing Director Ph: +61 (0)8 9328 8477

MEC Resources Ltd

ACN 113 900 020 Level 1, 9 Bowman Street, South Perth WA 6151 T: +61 142 593 363 info@mecresources.com.au

www.mecresources.com.au