VOLT RESOURCES LIMITED — Share Issue/Capital Change 2021

Sep 9, 2021

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

VOLT RESOURCES LIMITED

Date of this announcement

Friday September 10, 2021

The +securities the subject of this notification are:

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Other

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Unquoted options exercisable at $0.05 each and	5,000,000	09/09/2021
to be confirmed	expiring on 9/9/2024
New class - code	Unquoted options ex. at $0.0385 each and	4,259,740	09/09/2021
to be confirmed	expiring on 9/9/2024

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

VOLT RESOURCES LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ABN

Registration number

28106353253

1.3 ASX issuer code

VRC

1.4 The announcement is

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New announcement

1.5 Date of this announcement

10/9/2021

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 2 - Issue details

2.1 The +securities the subject of this notification are:

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Other

Please specify

5,000,000 options ex. at $0.05, ex. 9/9/2024; and 4,259,740 options ex. at $0.0385, ex. 9/9/2024.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

New +securities ASX +security code +Security description New class - code to be confirmed Unquoted options exercisable at $0.05 each and expiring on 9/9/2024 +Security type ISIN code Options Date the +securities the subject of this notification were issued 9/9/2021 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1? No Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued. Refer ASX announcement - https://www.asx.com.au/asxpdf/20210901/pdf/4501hhqwbkvyhs.pdf Options Details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.05000000 9/9/2024 Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option Other Description Convertible into fully paid ordinary shares (ASX:VRC). Any other information the entity wishes to provide about the +securities the subject of this notification 5,000,000 unquoted options ex. at $0.05 each and expiring on 9/9/2024 (refer Appendix 3B released on 1/9/2021).

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Refer Appendix 3B released on 1/9/2021.

Issue details

Number of +securities

5,000,000

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Refer ASX announcement of 1 September 2021. Issued to Peak Asset Management as part consideration for acting as Lead Manager to the $5.75M placement.

Purpose of the issue

To pay for services rendered

Additional Details

Issued to Peak Asset Management as part consideration for being Lead Manager to the $5.75M placement

New +securities

ASX +security code +Security description New class - code to be confirmed Unquoted options ex. at $0.0385 each and expiring on 9/9/2024

+Security type ISIN code Options

Date the +securities the subject of this notification were issued

9/9/2021

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1?

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No

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Unquoted options ex. at $0.0385 each and expiring on 9/9/2024.

Options Details

+Security currency

AUD - Australian Dollar

Exercise price AUD 0.03850000 9/9/2024

Expiry date

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

Convertible into fully paid ordinary shares (ASX:VRC).

Any other information the entity wishes to provide about the +securities the subject of this notification

Issued as part consideration to a consultant to the Company who provided investor relations and corporate advisory services.

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

Issued as part consideration to a consultant to the Company who provided investor relations and corporate advisory services.

Issue details

Number of +securities

4,259,740

Were the +securities issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

Issued as part consideration for provision of consulting services to the Company.

Purpose of the issue

To pay for services rendered

Additional Details

Issued as part consideration for provision of consulting services to the Company.

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
VRC : ORDINARY FULLY PAID	2,440,051,585

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
VRCAD : OPTION EXPIRING 15-MAY-2022 EX 1C	55,000,000
VRCAB : PERFORMANCE RIGHTS	15,000,000
VRCAU : OPTION EXPIRING 23-OCT-2023 EX $0.022	69,450,002
VRCAW : OPTION EXPIRING 26-JUL-2024 EX $0.05	30,000,000
VRCAV : CONV NOTES MATURING 26-JAN-23	4,400,000
New class - code to be confirmed : Unquoted options exercisable at $0.05 each and expiring	5,000,000
on 9/9/2024
New class - code to be confirmed : Unquoted options ex. at $0.0385 each and expiring on	4,259,740
9/9/2024

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? No

5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1? No

5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

9,259,740 options.

5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

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