13 May

MetalsGrove Mining IPO - Priority Offer to SHH Shareholders

SHREE MINERALS LTD SHREE MINERALS LIMITED | ACN 130 618 683 www.shreeminerals.com ASX Announcement 13 May 2022 ASX Code SHH ACN 130 618 683 COMPANY DIRECTORS Sanjay Loyalka Director and Company Secretary Amu Shah Non-Executive Director Davide Bosio Non-Executive Director CONTACT DETAILS Principal & Registered Office Unit 38 18 Stirling Highway NEDLANDS WA 6009 www.shreeminerals.com T +61 8 61181672 E: info@shreeminerals.com METALSGROVE MINING LIMITED – PRIORITY OFFER TO SHREE MINERALS LIMITED SHAREHOLDERS Shree Minerals Limited (ASX: SHH) ( Shree Minerals ) is pleased to advise that MetalsGrove Mining Limited ( MetalsGrove ) has agreed to make a priority allocation to eligible shareholders of Shree Minerals of up to a total of 5,000,000 fully paid ordinary shares in the capital of MetalsGrove ( MGA Shares ) at an issue price of $0.20 per MGA Shares for a maximum of $1,000,000 ( Priority Offer ). MetalsGrove has lodged a prospectus today in connection with its initial public offer of up to 35,000,000 MGA Shares at an issue price of $0.20 per MGA Share to raise a minimum of $5,000,000 and a maximum of $7,000,000 ( Public Offer ). The Priority Offer will form part of the Public Offer and is being made to all shareholders of Shree Minerals resident in Australia and named on Shree Minerals’ register of members as at 5:00pm (WST) today ( Record Date ) ( Eligible Shree Minerals Shareholders ). If MetalsGrove receives applications from Eligible Shree Minerals Shareholders for more than 5,000,000 Shares ($1,000,000), MetalsGrove will implement a customary scale-back of applications under the Priority Offer, which will have reference to the pro rata shareholdings of Eligible Shree Minerals Shareholders and be subject to a minimum allocation of $2,000 per applicant. Any applications in excess of 5,000,000 Shares will be treated as additional applications under the Public Offer. Following the opening date of the Public Offer, MetalsGrove will dispatch a letter to Eligible Shree Minerals Shareholders containing a link to the Prospectus and instructions with respect to how Eligible Shree Minerals Shareholders can apply for MGA Shares. The closing date for the Priority Offer is 5:00pm (WST) on 6 June 2022, or such earlier or later date as the directors , in their absolute discretion, may determine. The release of this document to the market has been authorised by the Board of Shree Mineral Ltd. For further information, contact Automic on +61 2 9698 5414 or 1300 288 664.
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