Notification of Issue, Conversion or Payment up of Unquoted Equity SecuritiesAnnouncement Summary

Entity name

For personal use only

RINCON RESOURCES LIMITED

Date of this announcement Monday April 04, 2022

The +securities the subject of this notification are:Other

Total number of +securities to be issued/transferredASX +securityTotal number of +securities to be

code

Security description

issued/transferred

Issue date

New class - code

OPTIONS EXPIRING 30-MAR-2025 EX $0.20

2,500,000

30/03/2022

to be confirmed

Refer to next page for full details of the announcementNotification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity SecuritiesPart 1 - Entity and announcement details

For personal use only

1.1 Name of entity

RINCON RESOURCES LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type ACN

1.3 ASX issuer code RCR

1.4 The announcement isNew announcement

1.5 Date of this announcement 4/4/2022

Registration number 628003538

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 2 - Issue details

2.1 The +securities the subject of this notification are:

Other

For personal use only

Please specify

Issue of 2,500,000 unquoted options expiring 30 March 2025 with an exercise price of $0.20.

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:does not have an existing ASX security code ("new class")

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

For personal use only

New +securities

ASX +security code

+Security description

New class - code to be confirmed

OPTIONS EXPIRING 30-MAR-2025 EX $0.20

+Security type

ISIN code

Options

Date the +securities the subject of this notification were issued 30/3/2022

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

Yes

Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under listing rule 6.1?

Yes

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

Options Details

+Security currency

Exercise price

Expiry date

AUD - Australian Dollar

AUD 0.20000000

30/3/2025

Details of the existing class of +security that will be issued upon exercise or conversion of this new class of company option

Other

Description

RCR: ORDINARY FULLY PAID

Any other information the entity wishes to provide about the +securities the subject of this notification

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Please provide any further information needed to understand the circumstances in which you are notifying the issue of these +securities to ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B

The proposed issue of the securities was disclosed via the Appendix 3B dated 29 March 2022.

For personal use only

Other securities included in that Appendix 3B but not issued are 2,500,000 options with an exercise price of $0.20 expiring 36 months from the date of issue, which vest should the Company raise a total of at least $2,000,000 of additional capital at a price of more than $0.20 per Share by 28 August 2022.

Issue details

Number of +securities

2,500,000

Were the +securities issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

Investor relations services

Purpose of the issue

To pay for services rendered

Additional Details

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Rincon Resources Ltd. published this content on 04 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2022 07:53:03 UTC.