REACH RESOURCES LIMITED — Capital/Financing Update 2021

Jan 24, 2021

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ASX ANNOUNCEMENT/ MEDIA RELEASE

25 January 2021

Prospectus and Entitlement and Acceptance Forms despatched to Eligible Shareholders

As announced on 15 January 2021, Cervantes Corporation Ltd (ASX: CVS, Cervantes or the Company) announced it will undertake a non-renounceable entitlement issue of up to 268,004,155 Shares at an issue price of $0.008 per Share on the basis of one (1) Share for every two (2) Shares held at the Record Date, together with one (1) free unlisted new Option for every (2) new Shares issued exercisable at $0.015 on or before 28 February 2023 ( Offer ) to raise up to approximately $2.144 million before costs.

The Entitlement Offer is now open to all eligible shareholders who have a registered address within Australia or New Zealand ( Eligible Shareholders ) and who held Shares at 7pm (EDST) on Thursday 21 January 2021 ( Record Date ). The Entitlement Offer will close at 5pm (WST) Friday 5 march 2021 (unless extended).

The Company confirms that the Prospectus, together with personalised Entitlement and Acceptance Forms, have today been despatched to eligible shareholders. Letters to Eligible and Ineligible shareholders have today been despatched.

This announcement has been authorised by the board of the Company for release.

-ENDS-

For further information please contact the Company:

P: +61 8 6436 2300 E: admin@cervantescorp.com.au

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