METRO MINING LIMITED(MMI)

The suspension of trading in the securities of Metro Mining Limited will be lifted immediately, following the release by MMI of an announcement regarding the results of MMI's Accelerated Non-Renounceable Entitlement Offer.

Metro has received commitments of A$10.0 million comprising a A$3.3 million placement, which was fully subscribed, and A$6.7 million from the accelerated non-renounceable entitlement offer (including placement of shortfall and entitlements of ineligible holders). The institutional component of the equity raising satisfied the minimum subscription condition of A$10 million. The proceeds will provide Metro with working capital to strengthen its balance sheet until the NAIF funding decision and Metro FID for Stage 2 Expansion. The institutional component was supported by Metro's largest shareholder, Greenstone (19.67% interest), who committed to take up its proportionate interest in the placement and nonrenounceable entitlement offer, representing a total commitment of A$5 million. Senior secured lender, Lambhill Pty Limited (and associated entities), participated in the nonrenounceable entitlement offer in full, and applied for additional shortfall shares.

The company advises the correction of a typographical error in the Equity Raising Announcement released 25 June 2021: Page 3 of the Equity Raising Announcement under "Key Dates": Allotment of new shares under the retail entitlement offer should be 22 July 2021 (the Equity Raising Announcement referred to 28 July 2021); Trading of new shares under the retail entitlement offer should be 23 July 2021 (the Equity Raising Announcement referred to 29 July 2021).

The company releases a notice of proposed issue of securities - MMI.

The company releases an Investor Presentation.

Equity Raising of up to A$25.5 million comprising a A$3.3 million placement and a pro-rata accelerated non-renounceable entitlement offer to raise A$22.2 million. Equity Raising proceeds will provide Metro with working capital to strengthen its balance sheet until the NAIF funding decision and Metro FID for Stage 2 Expansion. Metro's largest shareholder, Greenstone (19.67% interest) has committed to take up its proportionate interest in the Equity Raising, representing a total commitment of up to A$5 million. Senior secured lender of Metro, Lambhill Pty Ltd, has confirmed its intention to take up its entitlement in full. Metro's supportive senior secured lenders have deferred debt repayments by up to 21 months until 2023 / 2024. Two sales contracts recently signed with foundation customer Xinfa Group and two sales contracts with other customers in the latter stages of negotiation. NAIF credit refresh program underway with the NAIF funding decision and Metro FID for Stage 2 Expansion targeted by September / October 2021. Strengthened Board and management team with deep industry experience, and orderly transition of the Managing Director and Chief Executive Officer underway.

The company is still not in a position to make an announcement at this time regarding ongoing negotiations with existing lenders of Metro Mining in relation to a potential bridge finance facility. To provide some certainty that it is appropriately funded in the short-term, Metro Mining is also progressing discussions with parties about a potential equity raising. Metro Mining expects that it will be in a position to release the Announcement by no later than Monday, 28 June 2021.

The company announces the estructure and extension to the repayment terms of its existing debt facilities owed to Ingatatus AG and Lambhill Pty Ltd: new amortisation schedule of the A$20.0M facility with Ingatatus AG is as follows: maturity on 1 December 2023, 3 equal principal repayments on 1 June 2023, 1 Sept 2023 and 1 Dec 2023 (previously 1 Sept 2021, 1 July 2022 and 1 Sept 2022). New amortisation schedule of the A$7.5M facility with Ingatatus is as follows: Maturity on 1 December 2023 (previously 1 January 2023) and 3 equal principal repayments on 1 June 2023, 1 Sept 2023 and 1 Dec 2023 (previously 1 July 2022, 30 Sept 2022 and 1 January 2023). New amortisation schedule of the A$7.5M facility with Lambhill is as follows: Maturity on 1 August 2024 (previously 1 January 2023) and 3 equal principal repayments on 1 July 2023, 1 October 2023 and 1 August 2024 (previously 1 July 2022, 30 Sept 2022 and 1 January 2023).

The company is still not in a position to make an announcement at this time regarding ongoing negotiations with existing lenders of Metro Mining in relation to a potential bridge finance facility. To provide some certainty that it is appropriately funded in the short-term, Metro Mining is also progressing discussions with parties about a potential equity raising.

The company is still not in a position to make an announcement at this time regarding ongoing negotiations with existing lenders of Metro Mining in relation to a potential bridge finance facility. Those negotiations are ongoing and, to provide some certainty that it is appropriately funded in the short-term, Metro Mining is also progressing discussions with parties about a potential equity raising. Metro Mining expects that it will be in a position to release the Announcement by no later than Monday, 21 June 2021.

The company has signed two additional Binding Offtake Agreements with China's Xinfa Group. There is a total commitment for 7 million dry metric tonne (DMT). First contract is from April to September 20222 and the second contract is from October 2022 to September 2025.

The company is still not in a position to make an announcement at this time regarding ongoing negotiations with existing lenders of Metro Mining in relation to a potential bridge finance facility. Metro Mining is continuing to actively progress these negotiations with its existing lenders and is hopeful that terms can be agreed and finalised with them during the course of the next week.

The company is not in a position to make an announcement at this time regarding ongoing negotiations with existing lenders of Metro Mining in relation to a potential bridge finance facility. Negotiations with the existing lenders are progressing but have not yet been finalised. Metro Mining expects that it will be in a position to release the Announcement by no later than Monday, 7 June 2021. Loading of ships recommenced 1 June 2021 after a short suspension of 7 days. As noted at the recent Metro Mining AGM, given high ocean freight rates the company has been selective with the scheduling of shipments which has, and will continue to cause, gaps in our shipping schedule. However, 2021 production and shipping forecasts at this time remain unchanged.

The securities of Metro Mining Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MMI, pending the release of an announcement regarding negotiations with existing lenders of MMI in relation to a potential bridge financing facility.

name changed from Metrocoal Limited