News: BML Botswana metals requests trading halt, page-5

DETAILS OF PLACEMENT

• Botswana is undertaking a single tranche placement of up to $362,000 priced at an issue price of 0.1¢ per share to ensure the existing asset portfolio is kept in good standing, review new venture opportunities and to augment working capital.
• The Placement will settle in one tranche of 362 million shares utilising the Company’s issuance capacity pursuant to ASX Listing Rule 7.1 and 7.1a.
• On settlement of the Placement existing non-executive director Matt Hudson will resign and be replaced by Edwin Bulseco and Josh Letcher. Further board strengthening may occur post completion of the Placement.
• Following completion of the Placement the board may consider offering Botswana shareholders an opportunity to obtain additional equity in the Company via a Share Purchase Plan (“SPP”).
• Following completion of the Placement and given the expanded capital structure the board may consider undertaking a share consolidation and an unmarketable parcel buy-back.
• Xcel Capital has been appointed Lead Manager to the capital raising.
• The Placement is only available to investors who qualify under section 708 of the Corporations Act.