Pro-Rata Entitlement Offer Closure and Notice of Shortfall

Panoramic Resources Limited wishes to advise that the fully underwritten pro-rata renounceable Entitlement Offer of two (2) New Shares for every eleven (11) Shares at an issue price of 28 cents per New Share to raise approximately $28.2 million (before costs) (the Offer) closed on 23 September 2019.

A total of 100,653,238 new Shares (after rounding-up) will be issued pursuant to the Offer. The Company received valid applications for entitlements from eligible shareholders and rights holders totalling $22.9 million (before costs).  This represents approximately 81% of all Shares offered under the Offer.

The Offer is fully underwritten by Morgans Corporate Limited (Morgans). The Shortfall will be taken-up in accordance with the terms and conditions of the Underwriting Agreement between the Company and Morgans.