Prospect Resources issues a completion of A$15.2 million investment and cleansing notice

Prospect Resources Ltd. confirms that on Tuesday, 22 April 2025, the Company issued 101,058,173 new ordinary shares in the Company at an issue price of A$0.15 per share to raise A$15.2 million (before costs). The shares were issued in connection with the strategic investment from First Quantum Minerals Ltd. that the Company announced on Tuesday, 15 April 2025.

The shares were issued pursuant to the Company’s existing ASX Listing Rule 7.1 and 7.1A capacity. The shares are subject to an 18-month period of voluntary escrow ending 22 October 2026.

The Corporations Act 2001 (Cth) (“Act”) restricts the on-sale of securities issued without disclosure unless the sale is exempt under section 708 or 708A of the Act. By giving this notice, the shares will fall within the exemption set out in section 708A(5) of the Act.

Notice pursuant to Section 708A(5)(e) of the Act

The Company gives notice pursuant to section 708A(5)(e) of the Act that:

• (a) the shares were issued without disclosure to investors under Part 6D.2 of the Act;
• (b) this notice is being given under paragraph (5)(e) of section 708A of the Act;
• (c) as at the date of this notice, the Company:
  • i. has complied with the provisions of Chapter 2M of the Act as they apply to the Company; and
  • ii. has complied with sections 674 and 674A of the Act; and
• (d) as at the date of this notice, there is no information:
  • i. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and
  • ii. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:
    • A. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or
    • B. the rights and liabilities attaching to the Placement Shares.