Growth Ambitions and Development Update
Entitlement offer to raise up to $4.6 million
Offer Structure
Offer Price
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•
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Non-renounceable pro-rata entitlements issue on the basis of 1 new shares ("Shares") for every 4 existing shares
("Entitlements Offer")
Entitlements Offer to raise up to ~$4.6m (before costs) via the issue of up to ~913m Shares
Shareholders have the right to apply for shortfall shares
The Offer Price of 0.5 cents ($0.005) per Share, represents:
О 18.7% discount to 5-day VWAP of 0.62 cents
О
23.1% discount to last closing price of 0.65 cents
Ranking
Substantial
shareholders
Use of Proceeds
Other Information
O 19.4% discount to TERP1 based on last closing price of 0.65 cents per share
Shares will rank equally with existing current fully paid ordinary shares on issue
Existing substantial shareholders, including DELPHI Unternehmensberatung Aktiengesellschaft ("DELPHI"), have
confirmed their intention to take-up entitlements
The proceeds of the Entitlements Offer will be used to support ongoing approvals and development activities at
PNX's 100% owned Fountain Head Gold Project, and significant near-mine and regional exploration (see next
slide)
Investors should have regard to the Offer Document for further details of the Offer, including how to participate
and risks relevant to any investment in PNX
1.
The Theoretical Ex-Rights Price ("TERP") is the theoretical price at which PNX shares should trade after the ex-date for the Entitlement Offer. TERP is calculated by
reference to PNX's last closing share price of 0.65c per share, being the last trading day prior to entering a trading suspension on 18 January 2022. TERP is a theoretical
calculation only.
PNZ
METALS
SO
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