24 Nov

Proposed issue of securities - HOR

Proposed issue of securities Proposed issue of securities 1 / 5 Announcement Summary Entity name HORSESHOE METALS LIMITED Announcement Type New announcement Date of this announcement 24/11/2021 The Proposed issue is: Total number of +securities proposed to be issued for a placement or other type of issue ASX +security code +Security description Maximum Number of +securities to be issued HOR ORDINARY FULLY PAID 75,000,000 Proposed +issue date 29/11/2021 Refer to next page for full details of the announcement A placement or other type of issue Proposed issue of securities Proposed issue of securities 2 / 5 Part 1 - Entity and announcement details 1.1 Name of +Entity HORSESHOE METALS LIMITED We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules. If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation). 1.2 Registered Number Type ACN Registration Number 123133166 1.3 ASX issuer code HOR 1.4 The announcement is 1.5 Date of this announcement 24/11/2021 1.6 The Proposed issue is: A placement or other type of issue New announcement Proposed issue of securities Proposed issue of securities 3 / 5 Part 7 - Details of proposed placement or other issue Part 7A - Conditions 7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? 7A.1a Conditions Approval/Condition +Security holder approval Date for determination 25/11/2021 Is the date estimated or actual? ** Approval received/condition met? Comments Part 7B - Issue details Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Will the proposed issue of this +security include an offer of attaching +securities? Details of +securities proposed to be issued ASX +security code and description HOR : ORDINARY FULLY PAID Number of +securities proposed to be issued 75,000,000 Offer price details Are the +securities proposed to be issued being issued for a cash consideration? Yes No Existing class Actual Yes Proposed issue of securities Proposed issue of securities 4 / 5 In what currency is the cash consideration being paid? AUD - Australian Dollar What is the issue price per +security? AUD 0.02000 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Part 7C - Timetable 7C.1 Proposed +issue date 29/11/2021 Part 7D - Listing Rule requirements 7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? 7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 25/11/2021 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? Part 7E - Fees and expenses 7E.1 Will there be a lead manager or broker to the proposed issue? 7E.1a Who is the lead manager/broker? Merchant Capital Partners Pty Ltd 7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? Yes No No No Yes Yes Proposed issue of securities Proposed issue of securities 5 / 5 7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker? The Company has engaged Merchant to act as Lead Manager in respect of a number of issues of securities (set out in the Company's Notice of Meeting). The Company will: (a) pay Merchant a management and placement fee of 6% of the total amount raised; (b) pay Merchant a settlement fee of $10,000 (exclusive of GST); and (c) subject to receipt of Shareholder approval, issue to Merchant (or its nominee) 10,000,000 Lead Manager Options with an exercise price of $0.03 per Option and expiring three (3) years from the date of issue. 7E.2 Is the proposed issue to be underwritten? 7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Part 7F - Further Information 7F.01 The purpose(s) for which the entity is issuing the securities To fund the 6% management fee and $10,000 settlement fee to Merchant, ongoing working capital expenditure, a mapping program on the tenements, refurbishment of the Horseshoe Lights camp, and to satisfy debts owed to the investors. 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? 7F.2 Any other information the entity wishes to provide about the proposed issue 7F.3 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a +disclosure document or +PDS for the +securities proposed to be issued No No
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