RINCON RESOURCES LIMITED — Capital/Financing Update 2020

Dec 17, 2020

Rincon Resources Ltd

30 June 2020 (Audited)

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Proforma

	RRL Audited 30-06-2020	Pre-IPO	Capital Raise @ $0.20	PROFORMA BALANCE SHEET
CURRENT ASSETS
Cash	235,329	400,000	5,575,856	6,211,185
Trade and other receivables	12,743	-	-	12,743
TOTAL CURRENT ASSETS	248,072	400,000	5,575,856	6,223,928
NON-CURRENT ASSETS
Exploration and evaluation	571,746	-	-	571,746
TOTAL NON-CURRENT ASSETS	571,746	-	-	571,746
TOTAL ASSETS	819,818	400,000	5,575,856	6,795,674
CURRENT LIABILITIES
Creditors and other payables	226,765	-	-	226,765
Borrowings	80,768	-	-	80,768
Convertible Note	-	-	-	-
TOTAL CURRENT LIABILITIES	307,533	-	-	307,533
TOTAL LIABILITIES	307,533	-	-	307,533
NET ASSETS (LIABILITIES)	512,285	400,000	5,575,856	6,488,141
EQUITY
Share capital	775,523	400,000	5,575,856	6,751,379
Retained loss	(263,238)	-	-	(263,238)
TOTAL EQUITY	512,285	400,000	5,575,856	6,488,141

The Company confirms that this announcement has been authorised and approved by the Board of Directors.

For more information:

Company:

Investors:

Geoff McNamara Director,

Rincon Resources Limited

+61 8 9322 1587

Peter Taylor

NWR Communications

+61 (0) 412 036 231

peter@nwrcommunications.com.au