Hylea Metals : Amended Header Appendix 3B

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12 SEPTEMBER 2019

ASX ANNOUNCEMENT

ISSUE OF 1ST PLACEMENT SHARES

Hylea Metals Limited (HCO, Hylea or the Company) wishes to provide the following update:

The Company is pleased to advise that subsequent to the announcement on 23 July 2019, the company has now issued a total of 124,965,202 fully paid ordinary shares (Placement) at an issue price of 2.0 cents per share to raise approximately $2.5million before costs.

A total of 124,965,202 shares were issued under the Placement approved by Shareholders at the General Meeting held on 29 August 2019 (together with 1 free attaching option for every 2 shares subscribed for the issued under the placement totalling 62,482,626 issued) to raise approximately $2,5000,000.

Proceeds of the Placement, together with Hylea's existing cash reserves will be utilised to proceed with the Kayelekera Project acquisition as previously announced on 24th June 2019.

The Company will pay to BW Equities a 3% capital raising fee and a 2% management fee on the funds raised pursuant to the Placement. The Company also incurred miscellaneous expenses including legal and listing fees in connection with the placement.

An Appendix 3B is attached in respect of the Placement.

For further information, contact:

Simon Andrew

Managing Director

+61 (08) 9278 2441

Hylea Metals Limited

Ph: +61 8 9278 2441

ABN 38 119 992 175

www.hyleametals.com.au

Appendix 3B

New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,

application for quotation of additional securities

and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Hylea Metals Limited

ABN

38 119 992 175

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

  • +Class of +securities issued or to be issued
  • Number of +securities issued or to be issued (if known) or maximum number which may be issued

Fully paid Ordinary Shares

Options

124,965,202 fully paid ordinary shares

62,482,626 Options (subject to reconciliation and rounding of entitlements) as free attaching options to the Entitlements issue Shares

+ See chapter 19 for defined terms.

04/03/2013

Appendix 3B Page 1

Appendix 3B

New issue announcement

  • Principal terms of the +securities (e.g. if options, exercise price
    and expiry date; if partly paid
    +securities, the amount
    outstanding and due dates for
    payment; if +convertible securities, the conversion price and dates for conversion)

Fully Paid Ordinary Shares

Options will be issued as free attaching options (1 for every 2 Shares subscribed for and issued) under the prospectus and will have a 3 year expiry from the date of issue and will be exercisable at $0.04 each.

+ See chapter 19 for defined terms.

Appendix 3B Page 2

04/03/2013

Appendix 3B New issue announcement

  • Do the +securities rank equally in all respects from the +issue date with an existing +class of quoted +securities?
    If the additional +securities do not rank equally, please state:
    • the date from which they do
    • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
    • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

For the Shares - the Shares issued under the placement will rank equally with the fully paid ordinary shares on issue.

For the Options Shares issued on exercise of the Options will rank equally with the fully paid ordinary shares on issue.

  • Issue price or consideration
  • Purpose of the issue
    (If issued as consideration for the acquisition of assets, clearly identify those assets)

$0.02 per Share

Shares issued under the Placement approved by shareholders at the General Meeting held on 29 August 2019 (together with 1 free attaching Option for every 2 Shares subscribed for and issued under the Entitlements issue).

6a Is the entity an +eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections 6b - 6h in relation to the +securities the subject of this Appendix 3B, and comply with section 6i

No - the Company's previous approval under Listing Rule 7.1A ceased to apply on shareholders approving the acquisition of an indirect 65% interest in the Kayelekera uranium mine at the general meeting held on 29 August 2019.

6b

The date the security holder

N/A

resolution under rule 7.1A was

passed

6c

Number of +securities issued

Nil

without security holder approval

under rule 7.1

6d

Number of +securities issued

Nil

with security holder approval

under rule 7.1A

+ See chapter 19 for defined terms.

04/03/2013

Appendix 3B Page 3

Appendix 3B

New issue announcement

6e Number of +securities issued Nil with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)

6f Number of +securities issued under an exception in rule 7.2

6g If +securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation.

124,965,202 Ordinary Shares

62,482,626 Options

N/A

6h

If +securities were issued under

N/A

rule

7.1A

for

non-cash

consideration,

state

date on

which valuation of consideration

was released to ASX Market

Announcements

6i Calculate the entity's remaining issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements

7.1 - Nil 7.1A - N/A

7

+Issue dates

10 September 2019

Note: The issue date may be prescribed by ASX

(refer to the definition of issue date in rule

19.12). For example, the issue date for a pro

rata entitlement issue must comply with the

applicable timetable in Appendix 7A.

Cross reference: item 33 of Appendix 3B.

Number

+Class

8

Number

and

+class

of

all

225,158,338

Fully Paid Ordinary

+securities

quoted

on

ASX

Shares

(including

the

+securities in

section 2 if applicable)

+ See chapter 19 for defined terms.

Appendix 3B Page 4

04/03/2013

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Hylea Metals Ltd. published this content on 12 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2019 03:26:02 UTC

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