Proposed issue of securities

Announcement Summary

For personal use only

Entity name

BASS OIL LIMITED

Announcement Type

New announcement

Date of this announcement 2/3/2022

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

Maximum Number of

ASX +security code

+Security description

+securities to be issued

BASO

OPTION EXPIRING 30-SEP-2024

306,666,667

BAS

ORDINARY FULLY PAID

800,000,000

Proposed +issue date

11/4/2022

Refer to next page for full details of the announcement

Proposed issue of securities

1 / 6

Proposed issue of securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of +Entity

BASS OIL LIMITED

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

ABN

13008694817

1.3

ASX issuer code

BAS

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

2/3/2022

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

2 / 6

Proposed issue of securities

Part 7 - Details of proposed placement or other issue

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

use

7A.1a Conditions

Approval/Condition

Date for determination

Is the date estimated or

** Approval

+Security holder approval

8/4/2022

actual?

received/condition met?

Estimated

Comments

personal

P rt 7B - Issue details

Is the proposed security a 'New

Will the proposed issue of this

class' (+securities in a class that is

+security include an offer of

not yet quoted or recorded by ASX)

attaching +securities?

or an 'Existing class' (additional

Yes

securities in a class that is already

quoted or recorded by ASX)?

Existing class

Details of +securities proposed to be issued

For

ASX +security code and description

BAS : ORDINARY FULLY PAID

Number of +securities proposed to be issued 800,000,000

Offer price details

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

Yes

Proposed issue of securities

3 / 6

Proposed issue of securities

In what currency is the cash consideration being paid?

AUD - Australian Dollar

What is the issue price per +security?

AUD 0.00150

only

Will these +securities rank equally in all respects from their issue date with

the existing issued +securities in that class?

Yes

Attaching +Security

use

Is the proposed attaching 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

Attaching +Security - Existing class (additional +securities in a class that is already quoted or recorded by ASX)

personal

Details of attaching +securities proposed to be issued

40,000,000 options are being issued to the Lead Manager of the Placement.

ASX +security code and description

BASO : OPTION EXPIRING 30-SEP-2024

Number of +securities proposed to be issued

306,666,667

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

266,666,667 options are being issued as a free attaching issue on a one for three shares basis as part of the Placement.

For

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

0.000001

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

Yes

Proposed issue of securities

4 / 6

Proposed issue of securities

Part 7C - Timetable

7C.1 Proposed +issue date 11/4/2022

only

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?

Yes

use

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

8/4/2022

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?

No

personal

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?

Yes

7E.1a Who is the lead manager/broker?

CoPeak Corporate Pty Ltd as Trustee for Peak Asset Management Unit Trust AFSL 382585

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?

For

1.

a 1% management fee on all funds raised under the placement (excluding GST);

2.

a 4% capital raise fee on all funds raised under the placement (excluding GST); and

3.

subject to a minimum of $1.2 million raised, the company will issue the Lead Manager with 40 million options with

an exercise price of $0.004 and 30 September 2024 expiry (being the Lead Manager Options). In the absence of

Shareholder approval, the fee is payable in cash to the equivalent value, being $24,000.

7E.2 Is the proposed issue to be underwritten?

No

Proposed issue of securities

5 / 6

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Bass Oil Limited published this content on 01 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2022 22:58:18 UTC.