ORION MINERALS LIMITED - Appendix 3B: Proposed Issue of Securities

Appendix 3B: Proposed Issue of Securities

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
(“Orion” or “the Company”)


Appendix 3B: Proposed Issue of Securities


Announcement Summary

    Entity name
    ORION MINERALS LTD

    Announcement Type
    New announcement

    Date of this announcement
    Friday August 7, 2020

    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

    ASX +security code                    +Security description                Maximum Number of
                                                                               +securities to be issued

    ORN                                   ORDINARY FULLY PAID                  346,148,515




    Proposed +issue date
    Wednesday August 12, 2020

    Refer to next page for full details of the announcement


Part 1 – Entity and announcement details


    1.1 Name of +Entity
    ORION MINERALS LTD

    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.

    1.2 Registered Number Type                             Registration Number
    ACN                                                    098939274

    1.3 ASX issuer code
    ORN

    1.4 The announcement is
    New announcement

    1.5 Date of this announcement
    Friday August 7, 2020

    1.6 The Proposed issue is:
    A placement or other type of issue



Part 7 – Details of proposed placement or other issue


Part 7A – Conditions


      7A.1 - Are any of the following approvals required for the placement or other type of issue?
       - +Security holder approval
       - Court approval
       - Lodgement of court order with +ASIC
       - ACCC approval
       - FIRB approval
       - Another approval/condition external to the entity
      No


Part 7B – Issue details

      Is the proposed security a 'New class' (+securities in a       Will the proposed issue of this +security include an
      class that is not yet quoted or recorded by ASX) or an         offer of attaching +securities?
      'Existing class' (additional securities in a class that is     No
      already quoted or recorded by ASX)?
      Existing class

Details of +securities proposed to be issued

      ASX +security code and description
      ORN : ORDINARY FULLY PAID

      Number of +securities proposed to be issued
      346,148,515


      Offer price details

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

      In what currency is the cash consideration being             What is the issue price per +security?
      paid?

      AUD - Australian Dollar                                      AUD 0.01700


      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
      Wednesday August 12, 2020


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

      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?
      346,148,515

      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


Part 7F – Further Information


      7F.01 The purpose(s) for which the entity is issuing the securities
      Progress the development the Company’s Prieska Copper-Zinc Mine, Northern Cape, South Africa and
      related activities and to raise additional working capital


      7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds?
      No

      7F.2 Any other information the entity wishes to provide about the proposed issue

Date: 07-08-2020 08:57:00
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