Capital Raising
Capital Raising
Perth, June 7, 2022 AEST (ABN Newswire) - Classic Minerals Limited (ASX:CLZ) is pleased to announce that it has entered into a mandate with Still Capital Pty Ltd (Mandate) for a capital raising of up to $4.0 million by way of a proposed issue of convertible notes, each with a face value of $25,000 (Convertible Notes). The Convertible Notes will be convertible into ordinary shares in the Company at any time up to 18 months after the issue of the Convertible Notes - any Convertible Note not converted by that date will be redeemed. A summary of the terms of the Convertible Notes is attached at Annexure A*.

Noteholders converting Convertible Notes will also be entitled to one (1) free attaching option for every two (2) shares issued on conversion, exercisable at $0.18 (on a post-Consolidation basis) on before 1 June 2025 (Conversion Options). A summary of the terms of the Conversion Options is attached at Annexure B*.

Pursuant to the proposed issue of Convertible Notes, as at the date of this announcement the Company has received indicative acceptances for $4.0 million.

Under the terms of the Mandate, Still Capital will be entitled to the following fees:

- Sign on fee - $100,000 to cover shareholder management, documentation drafting and associated development costs and expenses to be paid post-completion of the issue of Convertible Notes;

- Success fee - 2.5 million Shares and 5.0 million Options (each on a post-Consolidation basis) (together, Advisor Securities) on completion of $2,500,000 injected into the Company by way of the issue of the Convertible Notes; and

- Capital raising fee - 3% (plus GST) of the total funds received under the placement of the Convertible Notes.

The Company notes that the issue of the Convertible Notes and Advisor Securities is conditional on shareholder approval being obtained at a general meeting of the Company to be convened in early July 2022 - the Company expects to despatch a notice of meeting to shareholders during the week ended 10 June 2022 (Meeting).

Other matters to be considered by shareholders at the Meeting include a consolidation of capital on a 1:150 basis (Consolidation), the ratification of prior issues of securities and some amendments to the Company's constitution.

*To view Annexure A and B, please visit:

About Classic Minerals Limited

Classic Minerals Ltd ASX CLZClassic Minerals Limited (ASX:CLZ) is an exploration and development company focused on gold deposits in Western Australia's famous Goldfields region. In March 2017, Classic acquired the Forrestania Gold Project, with seven tenements stretching across 450km2. Strategically located in a very prospective region, the FGP is an underexplored package surrounded by multimillion ounce deposits such as Bounty (2Moz) and Yilgarn Star (1.5Moz).



Classic Minerals Ltd
T: +61-8-6305-0221

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