Proposed issue of securities

Update Summary

Entity name

ORION MINERALS LTD

Announcement Type

Update to previous announcement

Date of this announcement

4/8/2022

Reason for update to a previous announcement

Extension to closing date of Share Purchase Plan.

Refer to next page for full details of the announcement

Proposed issue of securities

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Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

ORION MINERALS LTD

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

Registration Number

ACN

098939274

1.3

ASX issuer code

ORN

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Extension to closing date of Share Purchase Plan.

1.4b Date of previous announcement to this update

22/6/2022

1.5 Date of this announcement

4/8/2022

1.6 The Proposed issue is:

An offer of +securities under a +securities purchase plan

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Proposed issue of securities

Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis?

No

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Proposed issue of securities

Part 4B - Offer details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

ASX +security code and description

ORN : ORDINARY FULLY PAID

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

No

Details of +securities proposed to be issued

ASX +security code and description

ORN : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted

150,000,000

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)?

No

Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)?

No

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)?

Yes

Is the minimum acceptance unit based or dollar based?

Dollar based ($)

Please enter the minimum acceptance value

$ 2,000

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)?

Yes

Is the maximum acceptance unit based or dollar based?

Dollar based ($)

Please enter the maximum acceptance value

$ 30,000

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Proposed issue of securities

Describe all the applicable parcels available for this offer in number of securities or dollar value

Parcels may be applied for in any amount ranging from A$2,000 (or ZAR20,000) to A$30,000 (or ZAR300,000).

Offer price details

Has the offer price been determined?

Yes

In what currency will the offer be made?

What is the offer price per +security?

AUD - Australian Dollar

AUD 0.02000

Oversubscription & Scale back details

Will a scale back be applied if the offer is over-subscribed?

Yes

Describe the scale back arrangements

Orion may elect to scale back the maximum number of shares issued to each shareholder to the extent

  • in the manner that it sees fit in its absolute discretion. Orion may take into consideration the size of an applicant's shareholding when determining scale-back. If an applicant applies for a ZAR dollar amount of shares & the exchange rate varies & the value of the application exceeds A$30,000, shares with a total issue price equal to A$30,000 will be issued to the applicant & excess refunded.

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

Yes

Part 4C - Timetable

4C.1 Date of announcement of +security purchase plan

22/6/2022

4C.2 +Record date

21/6/2022

4C.3 Date on which offer documents will be made available to investors

28/6/2022

4C.4 Offer open date

28/6/2022

4C.5 Offer closing date

12/8/2022

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Orion Minerals Ltd. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 08:16:00 UTC.