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Share Issue - Notice underSection 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 its announcement on 15 March 2023
regarding a $13 million capital raising to sophisticated and professional investors, as well as substantial shareholders
Tembo Capital, Delphi Group, Orion non-executive Director Tom Borman, Orion Chairman Denis Waddell and
Orion Managing Director & CEO Errol Smart, as part of a broader strategic equity funding package that has
resulted in the introduction of Clover Alloys (SA) as a new cornerstone investor group and which will enable Orion
to accelerate the development of both of its key base metal production hubs in South Africa’s Northern Cape
Province.
The capital raising, which was conducted via a two-tranche placement to sophisticated and professional
investors, pursuant to Section 708A of the Corporations Act 2001 (Placement), comprised the issue of
approximately 882 million fully paid ordinary shares (Share) at an issue price of $0.015 (being ZAR18 cents) per
Share and the issue of four free attaching unlisted options for every Share issued (approximately 3.53 billion unlisted
options at an exercise price of $0.017 (being ZAR20 cents) and an expiry date of 30 November 2023) (Options).
The issue of Shares and Options under Placement Two of the Placement (including the issue of shares to Directors
Denis Waddell, Tom Borman and Errol Smart, and substantial shareholder Tembo) and the issue of Options under
Placement One of the Placement, was subject to receipt of shareholder approval, which was sought and
obtained at the general meeting held on Friday 19 May 2023.
Some of these Options have now been exercised by an option holder, and Orion has today issued 10,000,000
Shares (Option Exercise Shares) following receipt of the aggregate exercise price of $170,000.
Orion engaged South African adviser Webb Street Capital (Pty) Ltd (Webb Street) to provide professional services
to Orion in South Africa over recent years, including the recent Placement (Services). Webb Street has separately
agreed to provide further support to Orion by subscribing for 29,652,776 Shares at an issue price of ZAR18 cents per
Share, representing a subscription amount of ZAR5,337,500 ($0.44 million) (Advisor Placement Shares).
Orion has, issued the 29,652,776 Advisor Placement Shares to Webb Street, with the subscription price payable by
Webb Street set off against fees payable by Orion to Webb Street under the Services engagement.
In accordance with section 708A(5)(e) of the Corporations Act 2001 (Act), the Company advises as follows in
relation to the Option Exercise Shares and Advisor Placement Shares:
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 and section 674A 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
10 August 2023
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.martinez@merchantec.com
Date: 10-08-2023 10:00:00
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