UNION STAR METALS LTD — Capital/Financing Update 2021

Oct 25, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

PVW RESOURCES LIMITED

Date of this announcement

Tuesday October 26, 2021

The +securities the subject of this notification are: Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Unlisted Options Expiry 31 December 2023	3,000,000	26/10/2021
to be confirmed

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

1 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

PVW RESOURCES 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

ACN

Registration number

124541466

1.3 ASX issuer code

PVW

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

26/10/2021

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

2 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

==> picture [8 x 8] intentionally omitted <==

Other

Please specify

Company has entered into a Corporate Advisory Mandate which includes the 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:

==> picture [8 x 9] intentionally omitted <==

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

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

3 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

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 Expiry 31 December 2023 +Security type ISIN code Options Date the +securities the subject of this notification were issued 26/10/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? No If some of the issued +securities do not rank equally: Is the actual date from which the +securities will rank equally (non-ranking end date) known? No Provide the estimated non-ranking end period The options can be exercised on or before 31 December 2023 Please state the extent to which the +securities do not rank equally: In relation to the next dividend, distribution or interest payment; or For any other reason Unlisted Options exercisable on or before 31 December 2023 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. The options are issued on standard terms Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.30000000 31/12/2023 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

4 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

Description

Unlisted Options Exercisable at $0.30 expiry 31 December 2023

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

The Company has entered into an arms-length Corporate Advisory Mandate and the Unlisted Options form part of the remuneration agreed between the parties.

Issue details

Number of +securities

3,000,000

Were the +securities issued for a cash consideration?

==> picture [9 x 8] intentionally omitted <==

Yes

In what currency was the cash consideration being What was the issue price per +security? paid? AUD - Australian Dollar AUD 0.00100000

Purpose of the issue

To pay for services rendered

Additional Details

The Company has entered into an arms-length Corporate Advisory Mandate

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

5 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

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)

	Total number of
ASX +security code and description	+securities on issue
PVW : ORDINARY FULLY PAID	69,271,875
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not	quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
PVWAG : OPTION EXPIRING 21-APR-2023 EX $0.30	3,000,000
PVWAE : PERFORMANCE RIGHTS TRANCHE A	850,000
PVWAF : PERFORMANCE RIGHTS TRANCHE B	850,000
PVWAB : ORDINARY FULLY PAID RESTRICTED	3,313,538
PVWAC : PERFORMANCE RIGHTS RESTRICTED	3,200,000
PVWAD : OPTION EXPIRING 29-JAN-2024 RESTRICTED	2,400,000
New class - code to be confirmed : Unlisted Options Expiry 31 December 2023	3,000,000

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

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

6 / 7

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

==> picture [21 x 22] intentionally omitted <==

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?

3,000,000 Unlisted Options

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

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

7 / 7