15,000 Ordinary Shares of Cavalier Resources Ltd are subject to a Lock-Up Agreement Ending on 13-DEC-2022. These Ordinary Shares will be under lockup for 182 days starting from 14-JUN-2022 to 13-DEC-2022.

Details:
Certain shares will be classified by ASX as restricted securities and will be required to be held in escrow for up to 24 months from the date of official quotation.

The Company anticipates that the following Securities will be subject to escrow: (a) 4,794,400 Shares held by the Directors; (b) 875,000 Shares to be issued to Matrix under the Matrix Exploration Option Agreement; (c) 200,000 Shares to be issued to Maximal under the Maximal Investments Option Agreement; (d) 1,500,000 Shares issued to various investors under seed subscription raisings; (e) 4,000,000 Options to be issued to the Joint Lead Managers (or their nominees); and (f) 4,000,000 Performance Rights to be issued to Directors and key management of the Company.

11,552,750 fully paid ordinary shares classified by ASX as restricted securities and to be held in escrow until June 17 2024, being 24 months from the date of Quotation.

15,000 fully paid ordinary shares classified by ASX as restricted securities and to be held in escrow until December 14, 2022, being 12 months from the date of issue.

1,075,000 fully paid ordinary shares classified by ASX as restricted securities and to be held in escrow until June 14, 2023, being 12 months from the date of issue.