VANADIUM RESOURCES LIMITED — Share Issue/Capital Change 2022

Nov 13, 2022

Notification of cessation of +securities

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

Announcement Summary

Entity name

VANADIUM RESOURCES LIMITED

Announcement Type

New announcement

Date of this announcement

Monday November 14, 2022

Details of +securities that have ceased

		Number of
ASX +security		+securities that	The +securities have	Date of
code	Security description	have ceased	ceased due to	cessation
VR8AI	OPTION EXPIRING	5,000,000	Lapse of conditional right to	14/11/2022
	02-FEB-2024 EX $0.10		securities because the
			conditions have not been, or
			have become incapable of
			being, satisfied

Refer to next page for full details of the announcement

Notification of cessation of +securities

1 / 4

Notification of cessation of +securities

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

Part 1 - Announcement Details

1.1 Name of +Entity

VANADIUM RESOURCES LIMITED

We (the entity named above) provide the following information about our issued capital.

1.2 Registered Number Type

ABN

Registration Number 47618307887

1.3 ASX issuer code

VR8

1.4 The announcement is

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

New announcement

1.5 Date of this announcement

14/11/2022

Notification of cessation of +securities

2 / 4

Notification of cessation of +securities

Part 2 - Details of +equity securities or +debt securities that have ceased

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

ASX +Security Code and Description

VR8AI : OPTION EXPIRING 02-FEB-2024 EX $0.10

Unquoted +equity securities that have ceased

Number of securities that have ceased

5,000,000

Reason for cessation

Lapse of conditional right to securities because the conditions have not been, or have become incapable of being, satisfied

Date of cessation

14/11/2022

Is the entity paying any consideration for the cessation? No

Any other information the entity wishes to notify to ASX about the cessation?

The 5,000,000 Unlisted Performance Advisory Options (Options) issued to a Corporate Advisor in February 2022. The Options were issued with a strike price equal to $0.10 and an expiry date of two years following issue and were subject to the Company achieving a share price of $0.15 on a 15 day VWAP during the first 9 months of the engagement, options have lapsed due to vesting condition not being met.

Notification of cessation of +securities

3 / 4

Notification of cessation of +securities

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

Part 3 - Issued capital following changes

Following the cessation of the +securities the subject of this notification, the issued capital of the entity will comprise:

3.1 Quoted +equity securities and +debt securities (total number of each +class of +securities quoted on ASX)	3.1 Quoted +equity securities and +debt securities (total number of each +class of +securities quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
VR8 : ORDINARY FULLY PAID	474,837,374
3.2 Unquoted +equity securities (total number of each +class of +equity securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
VR8AG : CLASS A PERFORMANCE RIGHTS	7,900,000
VR8AH : CLASS B PERFORMANCE RIGHTS	4,000,000
VR8AI : OPTION EXPIRING 02-FEB-2024 EX $0.10	0

Note: the figures stated in the tables above are used to calculate the total market capitalisation of the entity published by ASX from time to time. The table will not include those classes of +securities that have ceased or lapsed in their entirety in ASX records before the announcement date described in Q1.5, even if the entity has advised ASX of a change to that class of +security in Part 2 of this form.

Notification of cessation of +securities

4 / 4