VERITY RESOURCES LIMITED — Capital/Financing Update 2019

Jul 21, 2019

Six Sigma Metals

Corporate Details ASX Code: SI6

Directors

ASX Announcement

Steve Groves

22 July 2019

Non-Executive Director

Six Sigma Metals Share Purchase Plan Closed

Joshua Letcher Non-Executive Director

Six Sigma Metals Limited (ASX:SI6) (“ Six Sigma ” or “ the Company ”) is pleased to announce that its Share Purchase Plan closed on 12 July 2019 and was oversubscribed.

Eddie King Non-Executive Director

Contact

Details of the Share Purchase Plan

The Share Purchase Plan (“ SPP ”) was announced by the Company on 7 June 2019 and a prospectus for the SPP provided to shareholders on 28 June 2019.

Suite 2, Level 1 1 Altona Street West Perth WA Australia 6005

+61 (8) 6559 1792

Subject to shareholder approval of the SPP offer at the Company’s general meeting to be held on 15 August 2019, the Company will issue 62,500,000 shares to raise $250,000 (before expenses) at an issue price of $0.004 per share, plus one free attaching unlisted option for every two SPP shares issued. Also subject to shareholder approval, 20,000,000 Options will be issued to Xcel Capital Pty Ltd who acted as lead manager to the SPP.

info@sixsigmametals.com sixsigmametals.com

As the SPP was oversubscribed, the Directors have scaled back applications at their sole discretion as set out in the Prospectus. Accordingly, there will be no shortfall shares available under the SPP. The Company appreciates the support of its Shareholders.

Withdrawal of Resolution

As no shortfall shares will be available under the SPP, the Board of Six Sigma has resolved to withdraw Resolution 6 from its Notice of Meeting released on 15 July 2019 which sought approval for the issue of any available shortfall shares and options under the SPP Prospectus.

The withdrawal of Resolution 6 will not affect the validity of the proxy form attached to the Notice of Meeting or any proxy votes already submitted.

The Placement

As also announced on 7 June 2019 and 17 June 2019, the Company conducted a placement in two tranches to raise $500,000.

The first tranche of 104,375,000 shares were issued on 17 June 2019 at an issue price of $0.004 per share. The second tranche of 20,625,000 shares and the free attaching placement options will be issued subject to shareholder approve at the Company’s general meeting to be held on 15 August 2019.

ASX Announcement – 22 July 2019

The funds raised via the SPP and Placement will be used to maintain the Company’s existing portfolio of assets and to keep those assets in good standing, to assess new opportunities and to augment working capital.

Revised Timetable

Below is a revised timetable of the important dates in relation to the SPP.

EVENT	DATE
General Meeting	15 August 2019
Closing Date of Share Purchase Plan Offer	5.00pm (AWST) Friday 12 July 2019
Anticipated Date of Issue of Shares under the Share Purchase Plan Offer	16 August 2019
Anticipated Date that Trading commences for Shares issued under the Share Purchase Plan Offer	19 August 2019

* Dates are indicative only.

For and on behalf of the Board

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Mauro Piccini (Company Secretary)

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