ORION MINERALS LIMITED - Share Issue Notice under Section 708A(5)(e)

Share Issue – Notice under Section 708A(5)(e)

Orion Minerals Limited
Incorporated in the Commonwealth of Australia
Australian Company Number 098 939 274
ASX share code: ORN
JSE share code: ORN
ISIN: AU000000ORN1


Share Issue – Notice under Section 708A(5)(e)


Orion Minerals Limited (ASX/JSE: ORN) (Orion or the Company) refers to an announcement by the Company on 25
February 2021, regarding a $25 million capital raising conducted via a two-tranche placement to sophisticated and
professional investors and Orion non-executive Director Tom Borman (Capital Raising), to fund early-stage works at the
fully-permitted and development-ready Prieska Copper-Zinc Project, as well as the potential acquisition of the
advanced Okiep Copper Complex (OCC) and a major exploration push at OCC and the Areachap Province, South
Africa.

Orion has today issued 204,444,445 fully paid ordinary shares in the Company (Shares), at an issue price of $0.036 per
Share to raise $7.4M, resulting from a receipt of funds from investors for Tranche 2 commitments and finalising the Capital
Raising.

Orion has also today issued:

 •    1,000,000 Shares at an issue price of $0.036 per Share (being the same issue price as Shares issued under the
      Capital Raising) to Orion’s non-executive Director, Mr Godfrey Gomwe, to raise $36,000; and

 •    1,968,749 Shares at a deemed issue price of $0.036 per Share (being the same issue price as Shares issued under
      the Capital Raising), to Orion’s Managing Director & CEO, Mr Errol Smart, as part of a short term incentive scheme
      approved by the Board.

In accordance with section 708A(5)(e) of the Corporations Act 2001 (Act), the Company advises as follows:

 1.   this notice is being given under paragraph 708A(5)(e) of the Act;

 2.   the Company issued the Shares without disclosure to investors under Part 6D.2 of the Act;

 3.   as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they
      apply to the Company;

 4.   as at the date of this notice, the Company has complied with section 674 of the Act; and

 5.   all information of the kind that would be required to be disclosed to the market for the purposes of section
      708A(6)(e) of the Act has been disclosed to ASX Limited.

For and on behalf of the Board.


Denis Waddell
Chairman

19 April 2021

ENQUIRIES

 Investors                                Media                                     JSE Sponsor
 Errol Smart – Managing Director & CEO    Nicholas Read                             Monique Martinez
 Denis Waddell – Chairman                 Read Corporate, Australia                 Merchantec Capital
 T: +61 (0) 3 8080 7170                   T: +61 (0) 419 929 046                    T: +27 (0) 11 325 6363
 E: info@orionminerals.com.au             E: nicholas@readcorporate.com.au          E: monique@merchantec.co.za

Date: 19-04-2021 07:05:00
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