MINBOS RESOURCES LIMITED — Capital/Financing Update 2020

Sep 9, 2020

Proposed issue of securities

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Announcement Summary

Entity name

MINBOS RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Thursday September 10, 2020

The Proposed issue is:

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A placement or other type of issue

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
n/a	200,000,000 unlisted pre-consolidation options, AU$0.0025	200,000,000
	exercise price
MNB	ORDINARY FULLY PAID	95,260,000

Proposed +issue date

Thursday November 12, 2020

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

MINBOS RESOURCES LIMITED

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.

1.2 Registered Number Type

ACN

Registration Number

141175493

1.3 ASX issuer code

MNB

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Thursday September 10, 2020

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval Friday October 30, 2020 Estimated No

Comments

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 No securities in a class that is already quoted or recorded by ASX)? New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No No ASX +security code +Security description New class-code to be confirmed 200,000,000 unlisted pre-consolidation options, AU$0.0025 exercise price

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+Security type

Options

Number of +securities proposed to be issued

200,000,000

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

200,000,000 unlisted pre consolidation options, AU$0.0025 exercise price and 2 year life. (10,000,000 unlisted post consolidation options, AU$0.05 exercise price and 2 year life. Share Consolidation is subject to Shareholder approval.) Fees payable for broker services in regards to placement. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.0015
Details of the type of +security that will be issued if the option is exercised
MNB : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

200,000,000 fully paid ordinary shares

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. 200,000,000 unlisted pre consolidation options, AU$0.0025 exercise price and 2 year life. (10,000,000 unlisted post consolidation options, AU$0.05 exercise price and 2 year life. Share Consolidation is subject to Shareholder approval.) Please refer to announcement on 10 September 2020.

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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 No 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 MNB : ORDINARY FULLY PAID Number of +securities proposed to be issued 95,260,000 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 Vert Capital has agreed to be paid a majority of its capital raising fees in shares at the same issue price as the placement, subject to shareholder meeting. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 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

Thursday November 12, 2020 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? Yes

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7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

Friday October 30, 2020

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? Yes 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? No 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 Securities are to be issued in lieu of broking fees. This is subject to shareholder meeting in October 2020.

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

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