NIMY RESOURCES LIMITED — Capital/Financing Update 2023

Feb 13, 2023

Proposed issue of securities

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Announcement Summary

Entity name

NIMY RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

14/2/2023

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
NIMAK	OPTION EXPIRING 24-SEP-2026 EX $0.40	50,000
NIM	ORDINARY FULLY PAID	100,000

Proposed +issue date

28/3/2023

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

NIMY 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.

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 155855986

1.3 ASX issuer code

NIM

1.4 The announcement is

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New announcement

1.5 Date of this announcement

14/2/2023

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 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? Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval 28/3/2023 Estimated

Comments

Placement announced on 14 February 2023 includes the issue of Shares (to a director) and free attaching Placement Options and Lead Manager Options - the issue of which is the subject of shareholder approvals.

Part 7B - Issue details

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? Yes

Details of +securities proposed to be issued

ASX +security code and description

NIM : ORDINARY FULLY PAID

Number of +securities proposed to be issued

100,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

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Yes

In what currency is the cash

What is the issue price per

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consideration being paid? +security? AUD - Australian Dollar AUD 0.26500

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

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

NIMAK : OPTION EXPIRING 24-SEP-2026 EX $0.40

Number of +securities proposed to be issued

50,000

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

Free attaching Placement Options to the Placement Shares announced to the ASX on 14 February 2023.

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

0.000100

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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Part 7C - Timetable

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7C.1 Proposed +issue date

28/3/2023

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? No

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)? No

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? Yes

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

Raven Corporate Management Pty Ltd

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

For performing these services, the Lead Manager will receive a management fee of 2% (plus GST) of the gross proceeds raised under the Placement, and a placement fee of 4% (plus GST) on the capital introduced by Raven Corporate in the Placement. In addition, upon the successful completion of the Placement, be granted 4,250,000 Lead Manager Options, which will be subject to Shareholder approval at a General Meeting to be held around the end of March 2023.

7E.2 Is the proposed issue to be underwritten?

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No

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

Only as noted above.

Part 7F - Further Information

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

Funds raised under the Placement would be utilised for exploration on the Mons Nickel Project, including drilling for rate earth element carbonatite, Nickel EM anomalies, Lithium targets, further geological modelling and general working capital purposes.

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

The Placement Options are free attaching options to the Share Placement. Refer to ASX announcement dated 14 February 2023 announced earlier for further information.

The Placement includes free attached Options, participation by Directors and the issue of Lead Manager options, all subject to shareholder approval which the Company will seek at a general meeting to be held around the end of March 2023.

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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