TASMAN RESOURCES LTD — Capital/Financing Update 2020

Oct 20, 2020

Proposed issue of securities

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Announcement Summary

Entity name

TASMAN RESOURCES LTD

Announcement Type

New announcement

Date of this announcement

Wednesday October 21, 2020

The Proposed issue is:

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A standard pro rata issue (including non-renounceable or renounceable)

Total number of +securities proposed to be issued for a standard pro rata issue (including non-renounceable or renounceable)

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
TAS	ORDINARY FULLY PAID	29,229,224
TASOE	OPTION EXPIRING 07-AUG-2023	14,614,612

Ex date

Thursday November 5, 2020

+Record date

Friday November 6, 2020

Offer closing date

Monday November 30, 2020

Issue date

Friday December 4, 2020

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

TASMAN RESOURCES LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type

Registration Number

ACN 009253187

1.3 ASX issuer code

TAS

1.4 The announcement is

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New announcement

1.5 Date of this announcement

Wednesday October 21, 2020

1.6 The Proposed issue is:

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A standard +pro rata issue (non-renounceable or renounceable)

1.6a The proposed standard +pro rata issue is:

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• Non-renounceable

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Part 3 - Details of proposed entitlement offer issue

Part 3A - Conditions

3A.1 - Are any of the following approvals required for the entitlement offer to be unconditional? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval Another approval/condition external to the entity

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No

Part 3B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

TAS : ORDINARY FULLY PAID

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this If the entity has quoted company +security include an offer of options, do the terms entitle option attaching +securities? holders to participate on exercise? Yes Yes

Details of +securities proposed to be issued

ASX +security code and description

TAS : ORDINARY FULLY PAID

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities are non CDIs)

Offer ratio (ratio to existing holdings at which the proposed +securities will be issued)

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Proposed issue of securities
The quantity of additional +securities	For a given quantity of +securities
to be issued	held
1	20
What will be done with fractional	Maximum number of +securities
entitlements?	proposed to be issued (subject to
	rounding)
Fractions rounded up to the next	29,229,224
whole number
Offer price details for retail security holders
In what currency will the offer be	What is the offer price per +security
made?	for the retail offer?
AUD - Australian Dollar	AUD 0.04000

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes

Describe the limits on over-subscription

Qualifying Shareholders who may wish to apply for additional New Shares (and accompanying New Options) in excess of their entitlement under the Entitlement Offer may do so.

Will a scale back be applied if the offer is over-subscribed? Yes

Describe the scale back arrangements

The shortfall will be placed at the discretion of the Company.

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Attaching +Security

Is the proposed attaching security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional +securities in a class that is already quoted or recorded by ASX)? Existing class

Attaching +Security - Existing class (additional +securities in a class that is already quoted or recorded by ASX)

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Details of attaching +securities proposed to be issued

ASX +security code and description

TASOE : OPTION EXPIRING 07-AUG-2023

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities are non CDIs)

Offer ratio (ratio of attaching securities at which the new +securities will be issued)

The quantity of attaching +securities to be issued For a given quantity of the new +securities issued 1 2

What will be done with fractional entitlements? Maximum number of +securities proposed to be issued (subject to rounding) Fractions rounded up to the next whole number 14,614,612

Offer price details for retail security holders

In what currency will the offer be made?

What is the offer price per +security for the retail offer? AUD 0.00000

AUD - Australian Dollar

Oversubscription & Scale back details

Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes

Describe the limits on over-subscription

Qualifying Shareholders who may wish to apply for additional New Shares (and accompanying New Options) in excess of their entitlement under the Entitlement Offer may do so.

Will a scale back be applied if the offer is over-subscribed? Yes

Describe the scale back arrangements

The shortfall will be placed at the discretion of the Company.

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

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Yes

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Details of company options where holders entitled to participate in the offer

ASX +security code and description

TASOE : OPTION EXPIRING 07-AUG-2023

Date Option must be exercised by

Thursday November 5, 2020

Part 3C - Timetable

3C.1 +Record date

Friday November 6, 2020

3C.2 Ex date

Thursday November 5, 2020

3C.4 Record date

Friday November 6, 2020

3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue Monday November 9, 2020

3C.6 Offer closing date

Monday November 30, 2020

3C.7 Last day to extend the offer closing date

Wednesday November 25, 2020

3C.9 Trading in new +securities commences on a deferred settlement basis Tuesday December 1, 2020

3C.10 Last day for entity to announce the results of the offer to ASX, including the number and percentage of +securities taken up by existing +security holders and any shortfall taken up by underwriters or other investors

Thursday December 3, 2020

3C.11 +Issue date

Friday December 4, 2020

3C.12 Date trading starts on a normal T+2 basis

Monday December 7, 2020

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3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis Wednesday December 9, 2020 Part 3E - Fees and expenses 3E.1 Will there be a lead manager or broker to the proposed offer? No 3E.2 Is the proposed offer to be underwritten? No 3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No 3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer Part 3F - Further Information 3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue The funds will be used to fund one or more of: possible further exploration at the Company's Pernatty IOCG prospect in South Australia, possible support for the Company's investments and general working capital. 3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue? No 3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No 3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue UK, USA, China, South Africa, Hong Kong, Portugal and Germany 3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities* Yes

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3F.5a Please provide further details of the offer to eligible beneficiaries

The custodian or nominee must have an address in Australia or New Zealand and may only distribute the offer document to beneficiaries located in Australia or New Zealand.

3F.6 URL on the entity's website where investors can download information about the proposed issue

3F.7 Any other information the entity wishes to provide about the proposed issue

3F.8 Will the offer of rights under the rights issue be made under a disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? Yes

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