VANADIUM RESOURCES LIMITED — Capital/Financing Update 2018

Mar 27, 2018

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28 March 2018

Listing Rule 3.10.5A Disclosure

Tando Resources Limited (ASX: TNO or “the Company”) confirms that further to the ASX Announcement released 22 March 2018, in relation to the Placement, the Company has issued 5,000,000 fully paid ordinary shares at $0.40 per share ( Placement Shares ).

The Company issued 1,949,945 Placement Shares under its placement capacity under Listing Rule 7.1, and 3,050,055 Placement Shares under its placement capacity under Listing Rule 7.1A.

The Company provides the following information as required under ASX Listing Rule 3.10.5A in respect of the shares issued under the Company’s 10% Placement Capacity under Listing Rule 7.1A:

• a) The dilutive effect of the Placement under LR 7.1A on existing shareholders is as follows:

Number of shares on issue prior to the issue of the Placement Shares under LR7.1 and LR7.1A: 30,500,551

	Percentage
Dilution as a result of issue under LR 7.1 of 1,949,945 shares	5.49%
Dilution as a result of issue under LR 7.1A of 3,050,055 shares	8.59%
Total Dilution	14.08%

• b) The 3,050,055 shares issued under Listing Rule 7.1A were issued to sophisticated and professional investors as it was considered to be the most efficient mechanism for raising funds at the time;

• c) There were no underwriting arrangements entered into; and

• d) Fees for the placement included a management fee of $45,750.00 (plus GST) and 6% (plus GST) of total funds raised.

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6559 1792

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NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT

Further to the Appendix 3B, the Directors of Tando Resources Limited (ASX: TNO) (Company) provide a notice for the purposes of section 708A(5)(e) of the Corporations Act 2001.

The above Placement Shares are part of a class of securities quoted on ASX and may be subject to a subsequent offer for sale. The Company issued the Placement Shares above without a disclosure document to investors under Part 6D.2 of the Corporations Act 2001 (Cth) (the Act).

As at the date of this notice, the Company has complied with:

• a) the provisions of Chapter 2M of the Act as they apply to the Company; and b) section 674 of the Act.

As at the date of this notice, there is no excluded information for the purposes of sections 708A(7) and (8) of the Corporations Act.

For and on behalf of the Board

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Mauro Piccini

(Company Secretary)

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