Placement Completed and Share Purchase Plan Announced

Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce that it has received firm commitments to place 15,697,224 shares to raise $1,130,200 and an offer to shareholders under a Share Purchase Plan.

Placement

Auric will raise $1,130,200 (before costs) through a placement of 15,697,224 shares at an issue price of $0.072 per share (Placement Shares), together with 7,848,612 options, being 1 free attaching option exercisable at $0.15 and expiring 31 March 2024 (Placement Options) for every 2 Placement Shares subscribed for and issued (Placement). A lead manager’s fee of 1% and a placement fee of 5% of the value of the funds raised is payable to Finexia Securities Ltd (AFSL 485 760). Lazarus Capital Partners Pty Ltd acted as corporate advisors.

The Placement Shares and Placement Options will be issued without shareholder approval utilising the Company’s existing placement capacity pursuant to ASX Listing Rules 7.1 and 7.1A. The Placement Shares will rank equally with existing fully paid ordinary shares on issue in the Company and quotation of the Placement Shares is expected to occur on Thursday, 6 October 2022.

The share issue price is at an 11% discount to the 15-day VWAP.

The Placement Options will be issued pursuant to ASX Listing Rule 7.1. The Placement Options will be issued under the Prospectus to be issued under the SPP (refer below).

*The above dates are indicative and subject to change.

It is the intention of the Directors to apply funds from the Placement as follows:

Share Purchase Plan (SPP)

In conjunction with the Placement, Auric will offer eligible shareholders the opportunity to participate in a SPP on the same terms as the Placement to raise

$750,000 with the capacity to accept oversubscriptions for an additional $500,000. The SPP is priced at $0.072 per share and will also include 1 free attaching Option for every 2 shares subscribed for, exercisable at $0.15 and expiring 31 March 2024. The SPP will enable Auric’s retail and existing shareholder base to participate in the growth of the Company on the same terms as the Placement.

The Company may elect to accept additional subscriptions or alternatively close the SPP early and/or scale back applications.

Shareholders with a registered address in Australia or New Zealand at 5.00pm (AEDT) on 28 September 2022 will be invited to participate in the SPP.

Key terms of the SPP are:

• Up to $30,000 per eligible shareholder, across all of their holdings.
  
• AWJ intends to raise up to $750,000 before oversubscriptions (the Board reserves the right to accept additional subscriptions, close the SPP early and/or scale back applications in its absolute discretion).
• Further information regarding the SPP (including terms and conditions of the SPP) will be provided to eligible shareholders in the Prospectus, which will be made available to eligible shareholders shortly. Eligible shareholders wishing to participate in the SPP will need to apply in accordance with the instructions in the Prospectus.
• Participation in the SPP is optional.

The SPP Shares and Options will be issued under a Prospectus to be lodged on or about 17 October 2022.

Click here for the full ASX Release

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