MIRAMAR RESOURCES LIMITED — Capital/Financing Update 2022

Jun 19, 2022

ASX: M2R | 20 June 2022

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OPTIONS RIGHTS ISSUE UPDATE

On 15 June 2022, Miramar Resources Limited (ASX:M2R , “Miramar” or “the Company”) announced a fully underwritten pro-rata non-renounceable rights issue of options on the basis of one (1) new listed option ( New Option ) for every two (2) fully paid ordinary shares ( Shares ) held by eligible shareholders at the Record Date ( Entitlement Offer ).

The New Options will have an issue price of $0.01 per Option, an exercise price of $0.25 per Option and an expiry date two years after the listing date.

Termination of Underwriting Agreement

The Company engaged PAC Partners Securities Limited ( PAC ) to act as lead manager and underwriter to the Entitlement Offer.

The Underwriting Agreement contained a clause allowing PAC to terminate the Agreement if the ASX 200 Index fell more than 10% after the signing of the Agreement.

On 17 June 2022, the Company received a notice from PAC exercising its right to terminate the Underwriting Agreement on this basis.

Notwithstanding the termination of the Underwriting Agreement, the Company intends to proceed with the Entitlement Offer and will lodge a replacement prospectus with ASIC. As the Entitlement Offer is not presently open for acceptances, no shareholder has yet been able to apply for New Options under the Prospectus.

As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out in the timetable outlined in the Prospectus and as set out below.

As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.	As at the date of this announcement, the Company expects the Entitlement Offer to proceed as set out inthe timetable outlined in the Prospectus and as set out below.
EventDate*Lodgement of Prospectus with ASICTue,14 June 2022Lodgement of Prospectus and Appendix 3B with ASXTue,14 June 2022Ex-dateFri,17 June 2022Record Date for determiningEntitlementsMon, 20 June 2022Entitlement Offer opening date, Prospectus sent out to Shareholders andCompanyannounces this has been completedThu, 23 June 2022Last dayto extend the ClosingDate for the Entitlement OfferWed,29 June 2022ClosingDate of Offers as at 5:00pm******Mon, 4 July 2022New Optionsquoted on a deferred settlement basisTue,5 July2022ASX and Underwriter notified of under subscriptionsThu,7 July2022Underwriter subscribes for Shortfall under terms of UnderwritingAgreementFri,8 July2022Issue date and lodgement of Appendix 2A with ASX applying for quotation ofthe New OptionsMon, 11 July 2022Quotation of New Options issued under the Entitlement OfferTue, 12 July 2022
		ptio	nsquot	ed on	a deferred settlement basis		ue,	5 Ju	ly2	2222222222
ASX	a	nd U	nderwr	iter no	tified of under subscriptions		Thu,	7 Ju	ly20
Unde	r	write	r subsc	ribes	for Shortfall under terms of UnderwritingAgreeme	nt	Fri,	8 Ju	ly20
Issuethe N	e	datew O	and lodptions	geme	nt of Appendix 2A with ASX applying for quotation	ofM	on, 1	1 Ju	ly 20
Quot	at	ion	of New	Optio	ns issued under the Entitlement Offer	Tu	e, 1	2 Ju	ly 20
	s	e dateDirect	s are indicors may ex	ative ontend th	ly and are subject to change.e Closing Date for the Entitlement Offer by giving at least 3 Busines	s Days’ notice to A	SX pri	or to t	he Clo	sing

Note:

***** These dates are indicative only and are subject to change.

****** The Directors may extend the Closing Date for the Entitlement Offer by giving at least 3 Business Days’ notice to ASX prior to the Closing Date. Accordingly, the date the New Options are expected to commence trading on ASX may vary.

ASX: M2R | ABN 34 635 359 965 | Unit 1, 22 Hardy Street, South Perth, Western Australia 6151 PO Box 810, South Perth WA 6951 | miramarresources.com.au | info@miramarresources.com.au | +61 (8) 6166 6302

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For more information on Miramar Resources Limited, please visit the company’s website at www.miramarresources.com.au, follow the company on social media on social media (Twitter @MiramarRes and LinkedIn @Miramar Resources Ltd) or contact:

Allan Kelly Mindy Ku Executive Chairman Company Secretary

This announcement has been authorised for release by Mr Allan Kelly, Executive Chairman, on behalf of the Board of Miramar Resources Limited.

ASX Announcement 20 June 2022

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