VERITY RESOURCES LIMITED — Capital/Financing Update 2017

Oct 30, 2017

ASX
ANNOUNCEMENT 31
OCTOBER
2017

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ASX:BML

ABN: 96
122
995
073

Issued
Capital: 1,824,315,814
ordinary
shares Directors: Mr
Patrick
Volpe
(Chairman) Mr
Steve
Groves
(Director/Geologist) Mr
Josh
Letcher
(Non-­‐executive) Mr
Ed
Bulseco
(Non-­‐executive)

Registered
Office: Suite
506,
Level
5 1
Princess
Street,
Kew Victoria,
Australia,
3101

Contact:

p:
+61
(3)
9855
1885 e:
info@botswanametals.com.au

**About

Botswana
Metals**

Botswana
Metals
is
exploring
for
nickel, copper,
cobalt,
tantalum
and
lithium
within
its ~1,500
square
kilometre
exploration
portfolio. These
“new
world”
metals
are
becoming increasingly
important
as
the
world
switches
to cleaner
sources
of
energy.

The
company
announced
a
maiden
JORC Inferred
Resource
of
2.38Mt
on
28[th] April
2015 from
drilling
within
a
small
185
square kilometre
section
of
its
exploration
portfolio
in which
it
had
entered
a
joint
venture
with
BCL. At
the
time
cobalt
was
not
included
in
the resource
calculation. Historical
drilling
outside
of
the
joint
venture ground
has
intercepted
further
nickel
as
well
as significant
intercepts
of
copper
and
cobalt. A
soil
sampling
program
detected
traces
of lithium
and
tantalum
which
warrant
further exploration. Large
tracts
of
BML’s
exploration
portfolio remain
unexplored.

**WAIVER

OF
ASX
LISTING
RULE
7.3.8**

Botswana
Metals
Limited
is
pleased
to
advise
that
ASX
Limited
has
granted
the Company
a
waiver
of
Listing
Rule
7.3.8
such
that
the
Company
is
not
required
to include
a
voting
exclusion
statement
in
its
Notice
of
Annual
General
Meeting
in respect
of
the
resolution
pursuant
to
Listing
Rule
7.1
to
approve
the
issue
of
up
to 182,431,707
free
attaching
options
(at
a
ratio
of
1
option
for
every
3
shares subscribed)
with
an
exercise
price
of
$0.00125
(0.125
cents)
per
option
and
an expiry
date
of
1
July
2021
to
applicants
participating
in
the
Share
Purchase
Plan which
opened
on
13
October
2017.

Background

Subject
to
certain
exceptions,
Listing
Rule
7.3.8
requires
a
resolution
for
the purposes
of
Listing
Rule
7.1
to
have
a
voting
exclusion
statement
excluding
the votes
of
security
holders
who
may
participate
in
the
issue,
as
they
may
receive
a benefit
from
the
passing
of
the
resolution
that
will
not
accrue
to
security
holders that
do
not
participate
in
the
issue.

As
all
the
Company’s
shareholders
were
eligible
to
participate
in
the
Share Purchase
Plan
the
application
of
Listing
Rule
7.3.8
in
this
situation
would
result
in there
potentially
being
no
shareholders
entitled
to
vote
on
the
resolution.

Accordingly,
the
Company
applied
to
ASX
for
a
waiver.

Having
regard
to
the
nature
of
the
Share
Purchase
Plan,
and
specifically
the
fact that
it
was
not
underwritten,
ASX
Limited
decided
to
grant
the
waiver
sought.

**Mr

Patrick
Volpe Chairman**