Proposed issue of securitiesAnnouncement Summary
Entity name
For personal use only
MAGNUM MINING AND EXPLORATION LIMITED
Announcement Type
New announcement
Date of this announcement 2/5/2022
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
Proposed +issue date 3/5/2022
Refer to next page for full details of the announcementProposed issue of securities
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Proposed issue of securities
Part 1 - Entity and announcement details
1.1 Name of +Entity
MAGNUM MINING AND EXPLORATION LIMITED
For personal use only
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 ABN
Registration Number 70003170376
1.3 ASX issuer code MGU
1.4 The announcement isNew announcement
1.5 Date of this announcement 2/5/2022
1.6 The Proposed issue is:
A placement or other type of issue
Proposed issue of securities
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Proposed issue of securities
Part 7 - Details of proposed placement or other issue
For personal use 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?
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)?
Will the proposed issue of this +security include an offer of attaching +securities?
No
Existing class
Details of +securities proposed to be issued
ASX +security code and description
MGU : ORDINARY FULLY PAID
Number of +securities proposed to be issued
8,433,735
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
Nil consideration. Shares are being issued to Shape Capital Pty Ltd or its nominee for corporate advisory and facilitation fees in connection with the Convertible Note Agreement entered into between IRIS and the Company as announced on 2 May 2022.
Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.083000
Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?
Proposed issue of securities
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Proposed issue of securities
Yes
For personal use only
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)?
Will the proposed issue of this +security include an offer of attaching +securities?
No
Existing class
Details of +securities proposed to be issued
ASX +security code and description MGU : ORDINARY FULLY PAID
Number of +securities proposed to be issued
24,096,386
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
Nil Consideration. Issued to IRIS as collateral for the Companys obligations under the Convertible Note Agreement entered into between IRIS and the Company as announced on 2 May 2022.
Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 0.083000
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
3/5/2022
Proposed issue of securities
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Proposed issue of securities
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
For personal use only
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?
32,530,121
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
7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue
ASX Listing Fees.
Part 7F - Further Information
7F.01 The purpose(s) for which the entity is issuing the securities
8,433,735 Shares issued for corporate advisory and facilitation fees in connection with the Convertible Note Agreement. 24,096,386 Shares issued as collateral under the Convertible Note Agreement.
Proposed issue of securities
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Magnum Mining and Exploration Limited published this content on 01 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2022 00:16:02 UTC.