METEORIC RESOURCES NL — Capital/Financing Update 2021

Nov 2, 2021

Proposed issue of securities

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Announcement Summary

Entity name

METEORIC RESOURCES NL

Announcement Type

New announcement

Date of this announcement

3/11/2021

The Proposed issue is:

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An offer of securities under a securities purchase plan A placement or other type of issue

Total number of +securities proposed to be issued for an offer of securities under a securities purchase plan

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Options exercisable at $0.024 expiring 28 May 2023	12,000,000
confirmed
MEI	ORDINARY FULLY PAID	60,000,000

+Record date

2/11/2021

Offer closing date

30/11/2021

+Issue date

7/12/2021

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
MEI	ORDINARY FULLY PAID	100,000,000
MEIAV	OPTION EXPIRING 28-MAY-2023 EX 2.4C	34,000,000

Proposed +issue date

9/11/2021

Refer to next page for full details of the announcement

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Part 1 - Entity and announcement details

1.1 Name of +Entity

METEORIC RESOURCES NL

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ACN

Registration Number 107985651

1.3 ASX issuer code

MEI

1.4 The announcement is

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New announcement

1.5 Date of this announcement

3/11/2021

1.6 The Proposed issue is:

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An offer of +securities under a +securities purchase plan A placement or other type of issue

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Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis? No

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Part 4B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

MEI : ORDINARY FULLY PAID

Will the proposed issue of this +security include an offer of attaching +securities? Yes

Details of +securities proposed to be issued

ASX +security code and description

MEI : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 60,000,000

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No

Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)? No

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? No

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? No

Describe all the applicable parcels available for this offer in number of securities or dollar value

$2,000 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000

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Offer price details Has the offer price been determined? Yes In what currency will the offer What is the offer price per be made? +security? AUD - Australian Dollar AUD 0.01700 Oversubscription & Scale back details Will a scale back be applied if the offer is over-subscribed? Yes Describe the scale back arrangements Scaleback at the discretion of the Board in consultation with the Underwriter

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Attaching +Security The proposed attaching security can only be of an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX) New class Attaching +Security - New class (+securities in a class that is not yet quoted or recorded by ASX) Details of attaching +securities proposed to be issued ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms	Will the entity be seeking quotation of the 'new' class of
of the proposed +securities are appropriate and	+securities on ASX?
equitable under listing rule 6.1?	Yes
No
ASX +security code New class-code to be confirmed	+Security description Options exercisable at $0.024 expiring 28 May 2023
+Security type
Options
Offer ratio (ratio of attaching securities at which the new	+securities will be issued)
The quantity of attaching +securities to be issued	For a given quantity of the new +securities issued
1	5

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What will be done with fractional entitlements?	Maximum total number of those +securities that could be
Fractions rounded down to the nearest whole number or fractions disregarded	issued if all offers under the +securities purchase plan are accepted 12,000,000
Offer price details
Has the offer price been determined?
Yes
In what currency will the offer be made?	What is the offer price per +security?
AUD - Australian Dollar	AUD 0.00000
Please confirm whether the offer of the attaching +securities is a separate offer to the offer pursuant to the
+security purchase plan
No
Please confirm whether the attaching +securities are being offered under a +disclosure document or +PDS
Yes
Oversubscription & Scale back details
Will a scale back be applied if the offer is
over-subscribed?
Yes
Describe the scale back arrangements Scaleback at the discretion of the Board in consultation with the Underwriter
Will all the +securities issued in this class rank equally	in all respects from their issue date?
Yes

Options details +Security currency AUD - Australian Dollar Exercise price Expiry date AUD 0.0240 28/5/2023 Details of the type of +security that will be issued if the option is exercised MEI : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised One fully paid ordinary share (ASX:MEI)

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

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Part 4C - Timetable

4C.1 Date of announcement of +security purchase plan 3/11/2021

4C.2 +Record date 2/11/2021

4C.3 Date on which offer documents will be made available to investors

11/11/2021

4C.4 Offer open date

11/11/2021

4C.5 Offer closing date

30/11/2021

4C.7 +Issue date and last day for entity to announce results of +security purchase plan offer

7/12/2021

Part 4D - Listing Rule requirements

4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements? Yes

Part 4E - Fees and expenses

4E.1 Will there be a lead manager or broker to the proposed offer? No

4E.2 Is the proposed offer to be underwritten? Yes

4E.2a Who are the underwriter(s)?

CPS Capital Pty Ltd

4E.2b What is the extent of the underwriting (ie the amount or proportion of the issue that is underwritten)?

100%

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4E.2c What fee, commission or other consideration is payable to them for acting as underwriter(s)?

6,000,000 options exercisable at $0.024 expiring 28 May 2023 and 6% fee on funds placed.

4E.2d Please provide a summary of the significant events that could lead to the underwriting being terminated.

The S&P/ASX Small Ordinaries index falls by more than 10%

4E.2e Is a party referred to in listing rule 10.11 underwriting or sub-underwriting the proposed offer? No

4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

4E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 4F - Further Information

4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

Complete a scoping study at Juruena Gold Project and undertake prelminary mining studies at Butchers Creek

4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer

4F.3 URL on the entity's website where investors can download information about the proposed offer

https://www2.asx.com.au/markets/trade-our-cash-market/historical-announcements and searching the ticker code "MEI"

4F.4 Any other information the entity wishes to provide about the proposed offer

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? No

Part 7B - Issue details

Is the proposed security a 'New Will the proposed issue of this class' (+securities in a class that is +security include an offer of not yet quoted or recorded by ASX) attaching +securities? or an 'Existing class' (additional Yes securities in a class that is already quoted or recorded by ASX)? Existing class

Details of +securities proposed to be issued

ASX +security code and description MEI : ORDINARY FULLY PAID Number of +securities proposed to be issued 100,000,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Yes In what currency is the cash What is the issue price per consideration being paid? +security? AUD - Australian Dollar AUD 0.01700

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

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Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)? Existing class

Attaching +Security - Existing class (additional +securities in a class that is already quoted or recorded by ASX)

Details of attaching +securities proposed to be issued

ASX +security code and description

MEIAV : OPTION EXPIRING 28-MAY-2023 EX 2.4C

Number of +securities proposed to be issued

20,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Options attaching to Placement Shares on the basis of 1 option for every 5 shares subscribed for.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.000001

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

MEIAV : OPTION EXPIRING 28-MAY-2023 EX 2.4C

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Number of +securities proposed to be issued

14,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

CPS Capital Lead Manager and Underwriting Fee.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

0.000010

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Part 7C - Timetable

7C.1 Proposed +issue date

9/11/2021

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

20,000,000 options exercisable at $0.24 expiring 28/5/23 (Placement) 12,000,000 options exercisable at $0.24 expiring 28/5/23 (SPP) 14,000,000 options exercisable at $0.24 expiring 28/5/23 (CPS Fees)

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? Yes

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7D.1c ( i ) How many +securities are proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A?

100,000,000 ordinary shares pursuant to the Placement

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? Yes

7E.1a Who is the lead manager/broker?

CPS Capital Pty Ltd

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

8,000,000 options exercisable at $0.024 expiring 28 May 2023 and 6% fee on funds placed.

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

Complete a scoping study at Juruena Gold Project and undertake prelminary mining studies at Butchers Creek

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)

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