RAGUSA MINERALS LTD — Capital/Financing Update 2017

Sep 26, 2017

SIV Asset Management Limited ACN 143 194 165

Level 17, 500 Collins Street Melbourne VIC 3000 Australia

ASX Code: SAM

27 September 2017

ASX MARKET ANNOUNCEMENT

NON-RENOUNCEABLE RIGHTS ISSUE OF SHARES AND OPTIONS

SIV Asset Management Limited (ASX: SAM) ( Company ) is pleased to announce a one for two non renounceable rights offer of up to 12,842,316 fully paid ordinary shares at 4 cents each to eligible shareholders on a one for one basis, together with two free attaching options for every new share issued, to raise up to $513,693 (before costs) ( Rights Issue ). The options will have an exercise price of 12 cents and expire on 31 October 2019.

The Rights Issue also includes a top-up facility offering eligible shareholders to apply for more than their entitlement in the event that not all eligible shareholders accept their full entitlement under the offer.

Funds raised from the Rights Issue will be used to pay for the costs associated with the Company pursuing and securing appropriate acquisition opportunities and the associated costs of the acquisition and, in the event ASX Listing Rule 11.1.3 applies to an acquisition, the costs associated with recomplying with the listing requirements under Chapters 1 and 2 of the Listing Rules, and otherwise for general working capital, administration purposes and offer expenses.

The proposed timetable for the Rights Issue is as follows:

	Event	Event	Date	Date	Date
	Lodgement of Prospectus with ASIC and ASX		26 September 2017
	Appendix 3B given to ASX		26 September 2017
	No	tice sent to Shareholders	28 September 20	17
	Exi	sting Shares quoted on an "ex" basis	29 September 20	17
	Re	cord Date	2 October 20	17
	PrSh	ospectus and Entitlement and Acceptance Form sent to Eligibleareholders	5 October 20	17
	Las	t Day to extend Closing Date	12 October 20	17
	Clo	sing Date (5.00pm AEDT)*	17 October 20	17
	Sh	ares quoted on a deferred settlement basis	18 October 20	17
	AS	X notified of under subscriptions	20 October 20	17
	An	ticipated date for the issue of the Shares and Options**	24 October 20	17
	De	ferred settlement trading ends	24 October 20	17
	No	rmal tradin (on a T+2 basis) commences	25 October 20	17
		g

2

The Directors may extend the Closing Date by giving at least 3 Business Days’ notice to ASX prior to the Closing Date, subject to the Corporations Act and Listing Rules. As such the date that the new shares are expected to commence trading on ASX may vary. The Company will not apply for quotation of the options.

The Rights Issue is not underwritten.

Further details and other important information about the Rights Issue are set out in the Company’s prospectus, which was lodged with ASIC and ASX today and will be mailed to eligible shareholders shortly after the Record Date, together with a personalised entitlement and acceptance form.

An Appendix 3B in respect of the Rights Issue has also been lodged with ASX today.

For further information, contact:

Mr Adrien Wing Company Secretary +61 3 9614 0600