GREENX METALS LIMITED

NEWS RELEASE | 14 March 2023

ISSUE OF SHARES

GreenX Metals Limited (GreenX or Company) advises that following the announcement made on 7 March 2023, due to high demand, directors have resolved to increase the previously announced share placing to UK and European investors by issuing a total of 14,053,975 ordinary fully paid shares (Shares) to raise approximately $7.7 million.

An application will be made for admission of the Shares to the standard listing segment of the Official List of the FCA (Official List) and to trading on the main market of the London Stock Exchange for listed securities (LSE Admission). LSE Admission is expected to take place at on 24 March 2023. The Company will also issue 150,000 unlisted options exercisable at A$0.55 each on or before 30 November 2026 to a key consultant of GreenX.

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (DTRs), following LSE Admission, the Company's issued ordinary share capital will be 267,674,439 ordinary shares. The above figure of 267,674,439 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company following LSE Admission.

Following the issue of Shares and options, GreenX has the following securities on issue:

·      267,674,439 ordinary fully paid shares;

·      5,375,000 unlisted options exercisable at A$0.45 each on or before 30 November 2025;

·      5,525,000 unlisted options exercisable at A$0.55 each on or before 30 November 2026;

·      5,000,000 Class A performance rights that have an expiry date 8 October 2026;

·      6,000,000 Class B performance rights that have an expiry date 8 October 2026; and

·      A convertible loan note with a principal amount of A$2,627,430, convertible into 5,711,805 ordinary shares at a conversion price of A$0.46 per share with no expiry date.

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