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STAVELY MINERALS LIMITED Capital/Financing Update 2020

Jul 29, 2020

65882_rns_2020-07-29_43058bf8-8754-4025-a9ee-91eaa3a3c74b.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT

30 July 2020

Completion of First Tranche of Share Placement and Cleansing Statement

Stavely Minerals Limited (‘Stavely Minerals’, ASX Code: SVY) is pleased to advise that settlement of the first tranche of the share placement (Placement) announced on 24 July 2020 has been completed. The Company has issued 28,000,000 ordinary fully paid shares at a subscription price of 60 cents each raising $16.8 million before costs (‘First Tranche Share Placement’). The shares were issued under the Company’s existing Listing Rule 7.1 and 7.1A capacity.

The second tranche of the Placement comprises 13,666,667 shares at 60 cents per share to raise a further $8.2 million and is subject to the approval of shareholders at a general meeting to be held on 31 August 2020.

Notice under Section 708a(5)(e) of the Corporations Act 2001 (Cth)

Stavely Minerals Limited gives notice under Section 708A(5)(e) of the Corporations Act 2001 (Cth) (Act) in relation to 28,000,000 ordinary fully paid shares in the Company issued without a disclosure document to exempt investors under Section 708 of the Act, at a price of 60 cents per share on 30 July 2020, being the First Tranche Share Placement, pursuant to the ASX announcement released on 24 July 2020.

The Company advises that:

The securities were issued without disclosure to investors under Part 6D.2 of the Corporations Act.
As at the date of this notice:
a) the Company has complied with the provisions of Chapter 2M of the Corporations Act, as they apply to the Company;
b) the Company has complied with section 674 of the Corporations Act; and
c) there is no "excluded information" within the meaning of sections 708A(7) and 708A(8) of the Corporations Act which is required to be disclosed by the Company under section 708A(6)(e) of the Corporations Act.