PACIFIC RESOURCES LIMITED — Capital/Financing Update 2024

Nov 4, 2024

5 November 2024

ASX ANNOUNCEMENT

Strategic Placement Completed

HIGHLIGHTS

• AustChina has received firm commitments for a Placement to raise approximately $320,000 from sophisticated and professional investors
• AustChina CEO Andrew Fogg and director Mena Habib will participate in the placement
• Placement proceeds will be used to help fund the Company's new project due diligence – AustChina is committed to assessing new projects to unlock value for shareholders
• The Company thanks all investors who participated in the Placement - Placement Shares are scheduled to be issued on or about Monday 11 November 2024

AustChina Holdings Limited (ASX: AUH) ("AUH", the "Company" or "AustChina") is pleased to announce that it has received firm commitments for a placement to raise approximately $320,000 from sophisticated and professional investors (Placement).

The Placement was supported by one of AustChina's major shareholders, Peter Proksa, who has committed to invest $100,000 in the Placement, and the Company's board and management, with Andrew Fogg CEO committing to invest $15,000 and Non-executive Director Mena Habib committing to invest $20,000 (subject to shareholder approval).

AustChina continues to assess a number of high-quality projects to unlock value for shareholders, while also focusing on driving its coal project forward. The Placement proceeds will help fund this appraisal and assessment and will also provide working capital.

Placement Details

The Placement consists of the issue of up to 320,000,000 shares ordinary fully paid shares (Shares) to sophisticated and professional investors at an issue price of $0.001 per Share, comprising:

• 300,000,000 new shares (Tranche 1) issued pursuant to the Company's existing placement capacity under ASX Listing Rule 7.1 to raise approximately $300,000; and
• 20,000,000 new shares (Tranche 2) to be issued, subject to shareholder approval at an EGM to be held in December 2024, to raise approximately $20,000.

The Placement Shares are scheduled to be issued on or about Monday 11 November 2024, with the exception of the Shares subscribed for by Mr Habib, which will be subject to shareholder approval.

The Placement price of $0.001 per Share represents a 43% discount to the 15-day Volume Weighted Average Price (VWAP) up to the date of the Placement.

The offer also includes one free attaching Option for every new Share subscribed for in the Placement, with an exercise price of $0.003 and an expiry date of on or before 4 November 2029. The Options will be issued subject to shareholder approval.

Placement
Settlement of Tranche 1 of the Placement	8November2024
Allotment of shares issued under Tranche 1	11 November 2024
Commencement of trading of shares issued under Tranche 1	12 November 2024
General Meeting to approve Tranche 2	IndicativelyDecember 2024
Settlement of Tranche 2 of the Placement	IndicativelyDecember 2024
Allotment and commencement of trading of shares issued under Tranche2	IndicativelyDecember 2024

Indicative Timetable

2

AustChina thanks existing shareholders who participated in the Placement for their support and welcomes new shareholders to the Company.

The Company will convene a shareholder meeting in the coming weeks to seek required shareholder approvals.

This announcement has been approved for release by the Chairman of the Board

For further information

Andrew Fogg	James Moses
Chief Executive Officer	Investor & Media Relations
T: +61 7 3229 6606	T: +61 420 991 574
E: info@austchinaholdings.com	E: james@mandatecorporate.com.au

About AustChina Holdings

AustChina Holdings (ASX: AUH) is a junior ASX-listed energy and mineral resources focused company, with a strategy to build a platform for wider exposure to developing energy markets through targeted minerals and energy-focused investments. Its current projects include the Blackall Coal Project in Queensland, investment interests in copper exploration and a holding in Organic Waste developer Utilitas Group Pty Ltd.