Nzuri Copper : Supreme Court Approves Scheme

27 February 2020

ASX: NZC

SUPREME COURT APPROVES SCHEME

Nzuri Copper Limited (ASX: NZC) (Nzuri) is pleased to announce that earlier today the Supreme Court of Western Australia (Court) approved the scheme of arrangement pursuant to which Xuchen International Limited, a subsidiary of Chengtun Mining Group Co., Ltd, will acquire all of the issued shares of Nzuri (Scheme).

Nzuri intends to lodge the Court's orders approving the Scheme with the Australian Securities and Investments Commission (ASIC) tomorrow. Upon lodgement of orders with ASIC, the Scheme will be effective.

Subject to lodgement of the Court's orders with ASIC (which will be announced on 28 February 2020):

1. Trading in Nzuri's shares on the Australian Securities Exchange will be suspended from the close of trading on 28 February 2020; and
2. Nzuri shareholders who hold shares at 5.00pm (WST) on 4 March 2020 will receive the Scheme consideration of $0.37 per share payable on implementation of the Scheme which is expected to take place on 11 March 2020.

END

Release authorised by, and for further information please contact:

Mark Arnesen	Hannah Hudson
CEO/Executive Director	CFO/Company Secretary
T: [phone]	T: [phone]
E: [e-mail]	E: [e-mail]

Doc ID 682633193/v4