Placements::BINDING TERM SHEET - VARY THE TERMS OF LITHIUM CONCENTRATE OFFTAKE AGREEMENT & PLACEMENT

Issuer & Securities

Announcement Title: Placements
Date &Time of Broadcast: 05-Oct-2017 01:40:27
Status: New
Announcement Sub Title: BINDING TERM SHEET - VARY THE TERMS OF LITHIUM CONCENTRATE OFFTAKE AGREEMENT & PLACEMENT
Announcement Reference: SG171005OTHRZXLJ
Submitted By (Co./ Ind. Name): Suen Sze Man
Designation: Executive Director
Description (Please provide a detailed description of the event in the box below): Please see attached.

The offer price of the following shares is as follows:

(1) 17,408,077 shares will be issued at an issue price of S$0.26748, being 10% discount to the volume weighted average price ("VWAP") of the Company shares of S$0.2972 on 29 September 2017 ("First Tranche");
(2)19,894,945 shares will be issued at an issue price of S$0.26748 being 10% discount to the VWAP ("Second Tranche");
(3) 19,601,756 shares will be issued at an issue price of S$0.28234 being 5% discount to the VWAP; and
(4) 17,905,450 shares will be issued at an issue price being equivalent to the VWAP.

The offer price indicated below is the offer price for the First Tranche and Second Tranche.

Total size =209K