Odessa Minerals : Proposed issue of securities - ODE

Proposed issue of securitiesAnnouncement Summary

Entity name

For personal use only

ODESSA MINERALS LIMITED

Announcement Type

New announcement

Date of this announcement 26/4/2022

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

Proposed +issue date 15/6/2022

Refer to next page for full details of the announcementProposed issue of securities

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Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

ODESSA MINERALS LIMITED

For personal use only

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 000031292

1.3 ASX issuer code ODE

1.4 The announcement isNew announcement

1.5 Date of this announcement 26/4/2022

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

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Proposed issue of securitiesPart 7 - Details of proposed placement or other issue

For personal use only

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?

Yes

7A.1a Conditions

Approval/Condition +Security holder approval

Date for determination 15/6/2022

Is the date estimated or actual?

Estimated

** Approval received/condition met?

No

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)?

New class

Details of +securities proposed to be issued

Will the proposed issue of this +security include an offer of attaching +securities?

No

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)Have you received confirmation from Will the entity be seeking quotationASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?

No

ASX +security code

New class-code to be confirmed

Incentive Options

+Security type

Options

of the 'new' class of +securities on ASX?

No

+Security description

Proposed issue of securities

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Proposed issue of securities

Number of +securities proposed to be issued

10,000,000

Offer price details

For personal use only

Are the +securities proposed to be issued being issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Incentive options issued as part of a newly appointed Director's remuneration package.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

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

Yes

Options details

+Security currency AUD - Australian Dollar

Exercise price AUD 0.0200

Expiry dateDetails of the type of +security that will be issued if the option is exercised

ODE : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised 10,000,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

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?

No

New class

Proposed issue of securities

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Proposed issue of securities

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from Will the entity be seeking quotation

For personal use only

ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?

of the 'new' class of +securities on ASX?

No

No

ASX +security code

+Security description

New class-code to be confirmed

Incentive options issued as part of a newly appointed Director's remuneration package.

+Security type Options

Number of +securities proposed to be issued 10,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Incentive options issued as part of a newly appointed Director's remuneration package.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

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

Yes

Options details

+Security currency AUD - Australian Dollar

Exercise price AUD 0.0300

Expiry dateDetails of the type of +security that will be issued if the option is exercised ODE : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised 10,000,000

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

Proposed issue of securities

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