STRICKLAND METALS LIMITED — Capital/Financing Update 2021

Nov 14, 2021

Announcement Summary

Entity name

STRICKLAND METALS LIMITED

Date of this announcement

Monday November 15, 2021

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

ASX +securitycode	Security description	Total number of+securities to beissued/transferred	Issue date
New class - codeto be confirmed	unlisted options with exercise price of $0.1125 andexpiring 12 November 2024	2,500,000	12/11/2021
New class - codeto be confirmed	unlisted options with exercise price of $0.15 andexpiring 12 November 2024	2,500,000	12/11/2021

Refer to next page for full details of the announcement

Part 1 - Entity and announcement details

1.1 Name of entity

STRICKLAND METALS LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number 20109361195

1.3 ASX issuer code

STK

1.4 The announcement is

New announcement

1.5 Date of this announcement

15/11/2021

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

Other

Please specify

Please refer to Appendix 3B lodged on 8 November 2021 relating to issue of unlisted options.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

does not have an existing ASX security code ("new class")

Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX

in an Appendix 3B

New +securities

ASX +security code	+Security description
New class - code to be confirmed	unlisted options with exercise price of $0.1125 and expiring12 November 2024

+Security type

ISIN code

Options

Date the +securities the subject of this notification were issued

12/11/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Please refer to Annexure 1 in the Company's Capital Raising Announcement dated 8 November 2021. https://www.asx.com.au/asxpdf/20211108/pdf/452pmwjsvqs5cl.pdf

Options Details

+Security currency AUD - Australian Dollar Exercise price AUD 0.11250000 Expiry date 12/11/2024

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Equity Securities

Description

STK: Ordinary Fully Paid Shares

the market in an Appendix 3B

Any other information the entity wishes to provide about the +securities the subject of this notification

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to

the market in an Appendix 3B

Please refer to Appendix 3B dated 8 November 2021.

Issue details

Number of +securities

2,500,000

Were the +securities issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Nil

Purpose of the issue

Other

Additional Details

as part consideration for Canaccord acting as Lead Manager under Placement as announced 8/11/2021.

New +securities

ASX +security code	+Security description
New class - code to be confirmed	unlisted options with exercise price of $0.15 and expiring
	12 November 2024

+Security type

ISIN code

Options

Date the +securities the subject of this notification were issued

12/11/2021

Equity Securities

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Please refer to Annexure 1 in the Company's Capital Raising Announcement dated 8 November 2021. https://www.asx.com.au/asxpdf/20211108/pdf/452pmwjsvqs5cl.pdf

+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.15000000	12/11/2024
company option		Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
Other
Description
STK: Ordinary Fully Paid Shares
		Please provide any further information needed to understand the circumstances in which you are notifying theissue of these +securities to ASX, including why the issue of the +securities has not been previously announced to
the market in an Appendix 3B
Please refer to Appendix 3B dated 8 November 2021.Issue details
Number of +securities2,500,000Were the +securities issued for a cash consideration?
No
	Please describe the consideration being provided for the +securities
Nil
Purpose of the issueOtherAdditional Details	as part consideration for Canaccord acting as Lead Manager under Placement as announced 8/11/2021.

Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

ASX +security code and description	Total number of+securities on issue
STK : ORDINARY FULLY PAID	1,094,439,459
STKOA : OPTION EXPIRING 17-MAY-2024	186,352,647

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

ASX +security code and description	Total number of+securities on issue
STKAQ : OPTION EXPIRING 22-JUL-2024 EX 2.5C	15,000,000
STKAM : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	6,000,000
STKAW : PERFORMANCE RIGHTS EXPIRING 02-AUG-2025	43,000,000
STKAR : OPTION EXPIRING 28-AUG-2024 EX 4C	21,000,000
STKAS : OPTION EXPIRING 28-AUG-2024 EX 5C	19,000,000
STKAT : OPTION EXPIRING 24-SEP-2024 EX $0.07	3,000,000
STKAU : OPTION EXPIRING 24-SEP-2024 EX $0.085	2,000,000
New class - code to be confirmed : unlisted options with exercise price of $0.1125 andexpiring 12 November 2024	2,500,000
New class - code to be confirmed : unlisted options with exercise price of $0.15 and expiring12 November 2024	2,500,000

Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

5,000,000

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No