VERITY RESOURCES LIMITED — Capital/Financing Update 2020

Aug 16, 2020

17 AUGUST 2020

Six Sigma Metals

Corporate Details

ASX Code: SI6

Directors

Patrick Holywell

Chairman

Steve Groves

Six Sigma’s SPP closes heavily oversubscribed

Six Sigma Metals Limited (ASX:Si6, Six Sigma or Company) is pleased to announce that it has raised $1,440,000 (before costs) pursuant to the Company’s Share Purchase Plan ( SPP ) that closed on 14 August 2020.

The SPP offered eligible shareholders registered on the Record Date the opportunity to subscribe for new fully paid ordinary shares up to a maximum value of $15,000 per eligible shareholder on the same terms as the $960,000 Placement to sophisticated investors conducted by the Company in July 2020 ( New Shares ).

The SPP was significantly oversubscribed with demand more than 3.5 times the original SPP offering. The Board has decided to accept over subscriptions so the maximum number of shares issued is not greater than 30% of the existing shares already on issue, in compliance with ASX Listing Rule 7.2, exception 5.

Non-Executive Director

Joshua Letcher Non-Executive Director

Mauro Piccini

Company Secretary

Contact

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

+61 (8) 6559 1792

info@sixsigmametals.com sixsigmametals.com

Si6’s Chairman, Patrick Holywell commented:

“We are very pleased with the high level of retail participation. The Company thanks shareholders for their continued support. Capital raised under the placement and SPP of $2.4M ensures the Company is well placed to continue active exploration.”

The Company will issue 240,000,000 New Shares at an issue price of $0.006 per share. The New Shares will be issued as soon as practicable. A pro rata scale back will be applied to all valid applications received prior to the close of the SPP.

On 23 July 2020, the Company lodged the SPP documentation with ASX stating that each participant in the SPP will be entitled to receive one free attaching option for every two SPP shares issued to them under the SPP (exercisable at 0.8c per share, expiring 1 July 2022). Subject to ASX requirements, the Company intends to seek quotation of the attaching options under the Placement and the SPP. The attaching options will not be issued under the SPP Offer document – they will be issued under a separate disclosure document which will be lodged in the near term.

The funds raised from the Placement and the SPP will be directed towards the continued exploration in Botswana, assessment of new gold and base metals opportunities and for working capital purposes.

Authorsied on behalf of the Board,

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Mauro Piccini Company Secretary

About Six Sigma Metals

Six Sigma Metals (ASX: Si6) is an exploration company operating in Southern Africa specifically targeting projects containing “battery or new world” metals to capitalise on the rising interest in the sector due to recent global technology advances and increasing demand for these commodities.