AuKing Mining Limited Prospectus

2.4 Offer Options This Prospectus includes provision for the issue of free-attaching options exercisable at $0.25 on or before 30 June 2023 on the basis of one (1) option for every two (2) Shares issued. Full details of the terms and conditions attaching to the Offer Options are set out in Section 13.5. 2.5 Existing Shareholders The Company has discretion regarding the allocation of Offer Shares under the Public Offer. The Company is encouraging Existing Shareholders to participate and the Board will take reasonable endeavours to allocate Shares that Existing Shareholders apply for (subject to the need to meet the ASX Spread Requirements). However, the Company has retained absolute discretion regarding the allocation of Offer Shares amongst Existing Shareholders. Further, the Company may reject any Application under the Public Offer, or allocate a lesser amount of Offer Shares than those applied for, in its absolute discretion. 2.6 Minimum Subscription The minimum subscription to the Public Offer is $6,000,000. If the minimum subscription to the Public Offer is not raised within four months after the date of this Prospectus, the Public Offer will not proceed and all Application Monies will be refunded to Applicants, in accordance with the Corporations Act . 2.7 Underwriting and Brokerage The Public Offer is not underwritten. The Lead Manager of the Public Offer is Novus Capital Limited. The Lead Manager will receive fees associated with the Public Offer as follows: a. initial engagement fee of $15,000; b. monthly advisory fee of $10,500; c. sponsoring broker fee of $30,000; d. management fee of 1% of the amount raised under the Public Offer; e. brokerage fee of 6% of the amount raised under the Public Offer, subject to an 80% rebate in respect of funds raised by the Company or parties other than the Lead Manager; and f. success/completion fee of $75,000 payable as to 50% cash and 50% Shares (with the issue of the share component subject to shareholder approval); and g. a monthly advisory fee of $6,250 after re-admission to the Official List for a minimum period of 6 months for ongoing float support, market advice and investor relations. 2.8 When to Apply for Offer Shares The Opening Date of the Public Offer will be 10 March 2021 at 9.00am (AEST), and the Closing Date of the Public Offer will be 5.00pm (AEST) on 23 April 2021. The Board, subject to the requirements of the Listing Rules and the Corporations Act , reserves the right to close the Public Offer earlier, to extend the Closing Date or to vary any of the important dates set out in this Prospectus without notice. Applicants are encouraged to submit their Application Forms as early as possible after the Opening Date as the Public Offer may close at any time thereafter without notice. 2. Details of the Public Offer continued 32