On 22 April 2016, Exterra Resources Limited ("Company") issued...

On 22 April 2016, Exterra Resources Limited ("Company") issued 23,809,522 fully paid ordinary shares at an i ssue pr ice of $0. 021, with 11, 904,761 free at taching op tions ($0.035 ex ercise pr ice, ex piring 21/4/2017) ("Placement").
The Company issued 3,694,223 shares and 11,904,761 options under Listing Rule 7.1 and 20,115,299 shares under Listing Rule 7.1A. Attached is an Appendix 3B and Section 708A Notice.
In accordance with the requirements of Listing Rule 3.10.5A, the following information is provided:

1. (a)  The dilution to existing shareholders as a result of:
   • the issue under Listing Rule 7.1 is 1.8%;
   • the issue under Listing Rule 7.1A is 10.0%; and
   • this total placement is 11.8%.
   The percentage of pre-placement security holders who did not participate in the offer is 99%.
   The percentage of pre-placement security holders who participated in the offer is 1%.
   The percentage of participants in the placement who were not previously security holders is 12%.
2. (b)  The issue of the Placement Shares was made as it was considered a more efficient mechanism ofraisingmoneyforthe Company.The placementdidnotexposetheCompanytomarket volatility that might have been experienced over a more protracted capital raising process.
3. (c)  There were no underwriting arrangements.
4. (d)  Taylor Collison, as broker to the placement, will be paid 5% of the funds managed by them, 1% of the total placement amount, and will be issued 3,000,000 options ($0.035 exercise price, expiring 3 years after issue date).