BPM Minerals : Proposed issue of securities - BPM

Announcement Summary

Entity name

BPM MINERALS LIMITED

Announcement Type New announcement

Date of this announcement 5/4/2022

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 20/5/2022

Refer to next page for full details of the announcementPart 1 - Entity and announcement details

1.1 Name of +Entity

BPM MINERALS LIMITED

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 ACN

Registration Number 644263516

1.3 ASX issuer code BPM

1.4 The announcement isNew announcement

1.5 Date of this announcement 5/4/2022

1.6 The Proposed issue is:

A placement or other type of issuePart 7 - Details of proposed placement or other issuePart 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?

Yes

7A.1a Conditions

Approval/Condition +Security holder approval

Date for determination 20/5/2022

Is the date estimated or actual?

Estimated

** Approval received/condition met?

No

Comments

Shareholder approval to be sought for the issue of 2,020,339 Tranche 2 placement shares and the issue of 14,285,714 options (under tranche 1 and tranche 2) exercisable at 28c on or before 2 years from issue, and the issue of 3,571,429 broker options on the same terms

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)?

Existing class

Details of +securities proposed to be issued

ASX +security code and description

BPM : ORDINARY FULLY PAID

Will the proposed issue of this +security include an offer of attaching +securities?

No

Number of +securities proposed to be issued

2,020,339

Offer price details

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

Yes

In what currency is the cash Proposed issue of securities

What is the issue price per 3 / 7

In what currency is the cash consideration being paid?

What is the issue price per +security?

AUD - Australian Dollar

AUD 0.21000

Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?

Yes

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

New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from Will the entity be seeking quotationASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?

of the 'new' class of +securities on ASX?

Yes

No

ASX +security code

+Security description

New class-code to be confirmed

Listed options $0.28 on or before 2 years from issue (subject to ASX and shareholder approval).

+Security type Options

Number of +securities proposed to be issued 17,857,143

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 14,285,714 options issued as part of tranche 1 and 2 to placement participants.

3,571,429 options issued to Pac Partners Securities as part of the Lead Manager.

See ASX announcement dated 5 April 2022.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will all the +securities issued in this class rank equally in all respects from their issue date?

Yes

Options details

+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.2800	20/5/2024

Details of the type of +security that will be issued if the option is exercised BPM : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised 17,857,143 shares

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

Part 7C - Timetable

7C.1 Proposed +issue date 20/5/2022

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?

Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1

20/5/2022