Whitebark Energy : Proposed issue of Securities - WBE

Proposed issue of securities

Announcement Summary

Entity name

WHITEBARK ENERGY LTD

Announcement Type

New announcement

Date of this announcement

Friday August 28, 2020

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

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
WBE	ORDINARY FULLY PAID	8,592,904

Proposed +issue date

Friday August 28, 2020

Refer to next page for full details of the announcement

Proposed issue of securities

1 / 5

Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

WHITEBARK ENERGY 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.

1.2	Registered Number Type	Registration Number
ABN	68079432796
1.3	ASX issuer code
WBE

1. The announcement is New announcement
2. Date of this announcement

Friday August 28, 2020

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

2 / 5

Proposed issue of securities

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue?

+Security holder approval

Court approval

Lodgement of court order with +ASIC

ACCC approval

FIRB approval

Another approval/condition external to the entity

No

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)?

Existing class

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

WBE : ORDINARY FULLY PAID

Number of +securities proposed to be issued

8,592,904

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

Shares issued in lieu of payment for professional services provided to the Company by an advisor.

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

0.005200

Proposed issue of securities

3 / 5

Proposed issue of securities

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

Yes

Part 7C - Timetable

7C.1 Proposed +issue date

Friday August 28, 2020

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?

Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

8,592,904

7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)?

No

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? No

7E.2 Is the proposed issue to be underwritten? No

Proposed issue of securities

4 / 5