Swick Mining Services : Orexplore opens priority offer with designed prospectus

For personal use only

7 December 2021

ASX ANNOUNCEMENT

Orexplore opens priority offer with designed prospectus

Western Australia - Swick Mining Services Limited ('Swick', ASX: SWK), a leading provider of high-qualityunderground mineral drilling, analysis services, and mobile drilling equipment, wishes to advise that the Orexplore priority offer to existing Swick shareholders has opened today. The designed prospectus is enclosed and is also available for immediate download from the Swick and Orexplore websites.

For more information:

https://events.miraqle.com/SWK-demergerandscheme/

-ends-

About Swick Mining Services:

Swick Mining Services Ltd (ASX: SWK) is one of Australia's largest mineral drilling contractors, providing high quality underground mineral drilling and mineral analysis services, and underground mobile drilling equipment to a diverse group of mining houses and across a spread of commodities. The Company has a strong reputation for innovation in rig design and drilling practices that delivers improvements in productivity, safety, versatility and value. Swick has a global presence with Operational revenue from Australia, United States and Europe.

For further information:
Kent Swick	Jitu Bhudia
Managing Director	Chief Financial Officer
Ph: [phone]	Ph: [phone]
Media enquiries:
Elodie Castagna
FTI Consulting
Ph: [phone]

For personal use only

Disclosure Statement:

These materials include forward looking statements. Forward looking statements inherently involve subjective judgement and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside of the control of, and may be unknown to, the Company. Actual results and developments may vary materially from those expressed in these materials. The types of uncertainties which are relevant to the Company may include, but are not limited to, commodity prices, political uncertainty, changes to the regulatory framework which applies to the business of the Company and general economic conditions. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, the Company does not in providing this information undertake any obligation to publicly update or revise any of the forward-looking statements or any change in events, conditions or circumstances on which any such statement is based.

For personal use only

Prospectus

For a priority offer of a minimum of 4,000,000 Shares at an issue price of $0.25 each, to raise a minimum of $1,000,000 (before costs) from eligible shareholders of Swick Mining Services Ltd (ACN 112 917 905) registered on a record date of 1 December 2021, with the right to accept oversubscriptions of up to a further 6,000,000 Shares at $0.25 each to raise up to a further $1,500,000 (before costs).

OREXPLORE TECHNOLOGIES LIMITED | ACN 645 505 406

The Priority Offer pursuant to this Prospectus is conditional upon the events set out in Section 1.6 of this Prospectus occurring.

It is proposed that the Priority Offer will close at 5.00pm (WST) on Wednesday, 22 December 2021. The Directors reserve the right to close the Priority Offer earlier or to extend this date without notice. Applications must be received before that time.

This is an important document and requires your immediate attention. It should be read in its entirety. Please consult your professional adviser(s) if you have any questions about this document.

Investment in the Shares offered pursuant to this Prospectus should be regarded as highly speculative in nature, and investors should be aware that they may lose some or all of their investment. Refer to Section 4 for a summary of the key risks associated with an investment in the Shares.

I

www.orexplore.com

For personal use only

Contents

For personal use only

Important Information	2
Corporate Directory	6
Letter from the Chairman	8
Key Offer Details	10
Indicative Timetable	11
Investment Overview	12
1.	Details of Offer	30
2.	Company Overview	44
3.	Industry		80
4.	Risk Factors	88
5.	Board, Management and Corporate Governance	104
6.	Financial Information	124
7.	Material Contracts	140
8.	Additional Information	146
9.	Authorisation	161
10.	Glossary of Terms	162
Annexure A	Investigating Accountant's Report - Ernst & Young	168
Annexure B	Intellectual Property Report - HWL Ebsworth Lawyers	174
Annexure C	Industry Expert Report - MinEx Consulting	196
Annexure D	Tech Rating - Deloitte	228
11.	Application Form	252

1