Persistence Gold Group Ltd — Capital/Financing Update 2021

Sep 6, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to shareholders or any other persons to acquire, purchase or subscribe for securities of the Company.

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APAC RESOURCES LIMITED 亞太資源有限公司[*]

(Incorporated in Bermuda with limited liability)

(Stock Code: 1104)

LISTING OF WARRANTS ON THE MAIN BOARD OF THE STOCK EXCHANGE OF HONG KONG LIMITED BY WAY OF BONUS ISSUE

Number of Warrants: 243,778,782 Warrants Exercise Price: HK$1.20 (subject to adjustment)

Stock Code of the Warrants: 1074

This announcement is made by APAC Resources Limited (the “ Company ”) pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”). Unless defined herein or the context otherwise requires, terms used in this announcement shall have the same meaning as defined in the circular of the Company dated 27 July 2021 (the “ Circular ”).

An application has been made by the Company to the Listing Committee of the Stock Exchange for the granting of the approval for the listing of, and permission to deal in, the Warrants to be issued as mentioned in the Circular and any New Shares which may fall to be issued upon exercise of the subscription rights attaching to the Warrants.

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Dealings in the Warrants on the Main Board of the Stock Exchange are expected to commence from 9:00 a.m. on Wednesday, 8 September 2021. The Warrants will be traded in board lots of 12,000 units each. The stock code of the Warrants is 1074.

Certificates for the Warrants (together with the subscription forms) are expected to be posted on or before Tuesday, 7 September 2021 at the risk of the Qualifying Shareholders entitled thereto to their respective addresses shown on the register of members of the Company.

Subject to the compliance with the stock admission requirements of HKSCC, the Warrants and any New Shares which may fall to be issued upon exercise of the subscription rights attaching to the Warrants will be accepted as eligible securities by HKSCC for deposit, clearance and settlement in CCASS with effect from the respective commencement dates of their dealings on the Stock Exchange or such other date as shall be determined by HKSCC. All activities under CCASS are subject to the General Rules of CCASS and the CCASS Operational Procedures in effect from time to time.

A total of 243,778,782 Warrants are to be issued by the Company to the Qualifying Shareholders pursuant to the Bonus Warrants Issue, represented by the Warrant certificates, conferring the rights in their registered form to the holders thereof to subscribe in cash for 243,778,782 New Shares at an initial exercise price of HK$1.20 per New Share (subject to adjustment) (the “ Subscription Rights ”) at any time during the period of thirteen (13) months from Tuesday, 7 September 2021 up to and until 4:00 p.m. on Thursday, 6 October 2022 (both days inclusive) (the “ Subscription Period ”). The Subscription Rights attaching to the Warrants may be exercised during the Subscription Period. Any Subscription Rights which have not been exercised during the Subscription Period will lapse and the relevant Warrant certificates will cease to be valid for any purpose.

Each Warrant certificate will contain a subscription form. In order to exercise the Subscription Rights, a holder of the Warrants must complete and sign the subscription form (which shall, once signed and completed, be irrevocable) and deliver such subscription form together with the Warrant certificate and a remittance of the relevant subscription moneys (or, in the case of a partial exercise, the relevant portion of the subscription moneys) to Tricor Secretaries Limited of Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong or such other person, firm or company as for the time being maintains in Hong Kong (unless the Directors otherwise determine) the register of holders of the Warrants and the register of members of the Company.

Copies of the Circular are available on the website of the Stock Exchange (www.hkexnews.hk) and that of the Company (www.apacresources.com) for information purpose.

By Order of the Board APAC Resources Limited Andrew Ferguson Executive Director

Hong Kong, 6 September 2021

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As at the date of this announcement, the directors of the Company are:

Executive Directors

Mr. Brett Robert Smith (Deputy Chairman) and Mr. Andrew Ferguson (Chief Executive Officer)

Non-Executive Directors

Mr. Arthur George Dew (Chairman) (Mr. Wong Tai Chun, Mark as his alternate) , Mr. Lee Seng Hui and Ms. Lam Lin Chu

Independent Non-Executive Directors

• Dr. Wong Wing Kuen, Albert, Mr. Chang Chu Fai, Johnson Francis and Mr. Wang Hongqian

• For identification purpose only

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