Appendix 3G

RNS Number : 6628Y

MGC Pharmaceuticals Limited

14 May 2021

 

MGC Pharmaceuticals Ltd

Appendix 3G

Notification of issue, conversion or payment up of equity

+securities

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

If you are an entity incorporated outside Australia and you are issuing a new class of +securities other than CDIs, you will need to obtain and provide an International Securities Identification Number (ISIN) for that class. Further information on the requirement for the notification of an ISIN is available from the Create Online Forms page. ASX is unable to create the new ISIN for non-Australian issuers.

*Denotes minimum information required for first lodgement of this form, with exceptions provided in specific notes for certain questions. The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Part 1 - Entity and announcement details

Questionno	Question	Answer
1.1	*Nameofentity We (the entity here named) give notice of the issue,conversionorpayment upofthefollowingunquoted +securities.	MGCPharmaceuticalsLtd
1.2	*Registrationtypeandnumber Please supply your ABN, ARSN, ARBN, ACN oranother registration type and number (if you supplyanother registration type, please specify both the typeofregistrationand theregistrationnumber).	ABN 30116800269
1.3	*ASXissuercode	MXC
1.4	*Thisannouncementis Tickwhicheverisapplicable.	☒ Anew announcement ☐ Anupdate/amendmenttoapreviousannouncement ☐ Acancellationof apreviousannouncement
1.4a	*Reasonforupdate Mandatory only if "Update" ticked in Q1.4 above. Areasonmustbe providedfor anupdate.	N/A
1.4b	*Dateofpreviousannouncementtothisupdate Mandatoryonlyif"Update"tickedinQ1.4above.	N/A
1.4c	*Reasonforcancellation Mandatoryonlyif"Cancellation"tickedinQ1.4above.	N/A
1.4d	*Dateofpreviousannouncementtothiscancellation Mandatoryonlyif"Cancellation"tickedinQ1.4above.	N/A
1.5	*Dateofthisannouncement	14May2021

Part 2 - Type of issue

QuestionNo.	Question	Answer
2.1	*The+securitiesthesubjectofthisnotification are: Selectwhicheveritemis applicable. If you wish to notify ASX of different types of issues ofsecurities, please complete a separate Appendix 3Gforeachtype ofissue.	☐ +Securities issued as a result of optionsbeingexercisedor other+convertible +securitiesbeingconvertedandthatarenottobe quotedonASX ☐ Partlypaid+securitiesthathavebeenfully paid up and that are not to bequotedonASX ☒ +Securities issued under an +employeeincentive scheme that are not beingimmediatelyquotedonASX ☐ Other[pleasespecify] If you have selected 'other' please provide thecircumstancesofthe issuehere :
2.2a.1	Pleasestatethenumberandtypeofoptionsthatwereexercisedorother +convertiblesecuritiesthatwereconverted(including their ASX security code ifavailable)? Answer this question if your response to Q2.1 is"securities issued as a result of options beingexercised or other convertible securities beingconvertedandthatarenottobequotedonASX".	N/A
2.2a.2	Andthedatetheoptionswereexercisedorother +convertible securities wereconverted: Answer this question if your response to Q2.1 is"securities issued as a result of options beingexercised or other convertible securities beingconvertedandthatarenottobequotedonASX". Note: If this occurred over a range of dates, enter thedate the last of the options was exercised orconvertiblesecuritieswasconverted.	N/A
2.2b.1	Pleasestatethenumberandtypeofpartlypaid +securities that were fully paid up(including their ASX security code ifavailable)? Answer this question if your response to Q2.1 is"partly paid securities that have been paid up and thatarenottobe quotedon ASX".	N/A
2.2b.2	And the date the + securities were fully paidup: Answer this question if your response to Q2.1 is"partly paid securities that have been paid up and thatarenottobe quotedon ASX". Note: If this occurred over a range of dates, enter thedatethelastofthesecuritieswasfullypaidup.	N/A

2.2c.1	Pleasestatethenumberandtypeof +securities(includingtheirASXsecuritycode) issued under an +employeeincentive scheme that are not beingimmediatelyquotedonASX Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	7,692,308 MXC Performance Optionsexercisableat$0.026exp31March2023toNicole Godresse pursuant to ServiceAgreementdated 1January2021
2.2c.2	*Please attach a document or providedetailsofaURLlinkforadocumentlodgedwith ASX detailingtheterms ofthe +employeeincentiveschemeorasummaryof the terms. Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	https://www.asx.com.au/asxpdf/20210113/p df/44rpx0g077t45z.pdf https://www.asx.com.au/asxpdf/20210225/p df/44t386c29jmbx3.pdf
2.2c.3	*Areanyofthese+securitiesbeingissuedto +key management personnel (KMP) oran+associate Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	No
2.2c.3.a	*Providedetails oftherecipients andthenumberof+securitiesissuedtoeachofthem. Answer this question if your response to Q2.1 is "securities issued under an employee incentive scheme that arenot being immediately quoted on ASX" and your response to Q2.2c.3 is "Yes". Repeat the detail in the tablebelow for each KMP involved in the issue. If the securities are being issued to the KMP, repeat the name of theKMP or insert "Same" in "Name of registered holder". If the securities are being issued to an associate of a KMP,insertthe name oftheassociatein"Name ofregistered holder".
2.2d.1	* Thepurpose(s)forwhichtheentity isissuing the +securities is: Answer this question if your response to Q2.1 is"Other". Youmayselectone ormoreoftheitemsinthelist.	☐ Toraiseadditionalworkingcapital ☐ Tofund theretirementofdebt ☐ Topayfortheacquisitionofanasset[provide detailsbelow] ☐ Topayforservicesrendered ☐ Other[providedetailsbelow]
2.2d.2	Please provide any further informationneededtounderstandthecircumstancesinwhichyouarenotifyingtheissueofthese +securitiestoASX,including(ifapplicable)why the issue of the +securities has notbeen previously announced to the marketinanAppendix 3B You must answer this question if your response toQ2.1 is "Other". If there is no other information toprovide,pleaseanswer"Not applicable"or"N/A".	N/A

2.3

*The+securitiesbeingissuedare: Tickwhicheverisapplicable

☒ Additional+securitiesin anexistingunquotedclassthatisalreadyrecordedbyASX("existingclass") ☐ New +securities in an unquoted classthatisnotyetrecordedby ASX("newclass")

Part 3A - number and type of +securities being issued (existing class)

Answer the questions in this part if your response to Q2.3 is "existing class".

QuestionNo.	Question	Answer
3A.1	*ASXsecuritycode&description	MXCOptionsexercisableat$0.026expiring31March2023
3A.2	*Numberof+securitiesbeingissued	7,692,308
3A.3a	*Will the +securities being issued rankequallyinallrespectsfromtheirissuedatewith the existing issued +securities in thatclass?	Yes
3A.3b	*Istheactualdatefromwhichthe +securitieswillrankequally(non-rankingend date) known? Answer this question if your response to Q3A.3a is"No".	N/A
3A.3c	*Providetheactualnon-rankingenddate Answer this question if your response to Q3A.3a is"No"and yourresponsetoQ3A.3bis"Yes".	N/A
3A.3d	*Providetheestimatednon-rankingendperiod Answer this question if your response to Q3A.3a is"No"and yourresponseto Q3A.3bis "No".	N/A
3A.3e	*Pleasestatetheextenttowhichthe +securitiesdonotrankequally: · in relation to the next dividend,distributionorinterestpayment;or · foranyotherreason Answer this question if your response to Q3A.3a is"No". For example, the securities may not rank at all, or mayrank proportionately based on the percentage of theperiod in question they have been on issue, for thenext dividend, distribution or interest payment; or theymay not be entitled to participate in some other event,suchasan entitlementissue.	N/A

Part 3B - number and type of +securities being issued (new class)

Answer the questions in this part if your response to Q2.3 is "new class".

QuestionNo.	Question	Answer
3B.1	*Securitydescription	N/A

3B.2	*Securitytype Select one item from the list that best describes thesecurities the subject of this form. This will determinemore detailed questions to be asked about the securitylater in this section. Select "ordinary fully or partly paidshares/units" for stapled securities or CDIs. For interestrate securities, please select the appropriate choicefrom either "Convertible debt securities" or "Non-convertible debt securities". Select "Other" forperformance shares/units and performanceoptions/rights or if the selections available in the list donot appropriatelydescribethesecuritybeingissued.	☐ Ordinaryfullyorpartlypaidshares/units ☐ Options ☐ +Convertibledebtsecurities ☐ Non-convertible+debtsecurities ☐ Redeemablepreferenceshares/units ☐ Other
3B.3	ISINcode Answer this question if you are an entity incorporatedoutside Australia and you are issuing a new class ofsecurities other than CDIs. See also the note at the topofthis form.	N/A
3B.4	*Numberof+securitiesbeingissued	N/A
3B.5a	*Willallthe+securitiesissuedinthisclassrank equally in all respects from the issuedate?	N/A
3B.5b	*Istheactualdatefromwhichthe +securitieswillrankequally(non-rankingend date) known? Answer this question if your response to Q3B.5a is"No".	N/A
3B.5c	*Providetheactualnon-rankingenddate Answer this question if your response to Q3B.5a is"No"and yourresponsetoQ3B.5bis"Yes".	N/A
3B.5d	*Providetheestimatednon-rankingendperiod Answer this question if your response to Q3B.5a is"No"and yourresponseto Q3B.5bis "No".	N/A
3B.5e	*Pleasestatetheextenttowhichthe +securitiesdonotrankequally: · in relation to the next dividend,distributionorinterestpayment;or · foranyotherreason Answer this question if your response to Q3B.5a is"No". Forexample,thesecuritiesmaynot rankatall,ormayrank proportionately based on the percentage of theperiod in question they have been on issue, for thenext dividend, distribution or interest payment; or theymay not be entitled to participate in some other event,suchasan entitlementissue.	N/A
3B.6	PleaseattachadocumentorprovideaURLlink for a document lodged with ASX settingout the material terms of the +securitiesbeing issued You may cross reference a disclosure document, PDS,information memorandum, investor presentation orother announcement with this information provided ithas been released to the ASX Market AnnouncementsPlatform.	N/A

3B.7	*HaveyoureceivedconfirmationfromASXthat the terms of the +securities areappropriateandequitableunderlistingrule6.1? Answer this question only if you are an ASX Listing.(ASX Foreign Exempt Listings and ASX Debt Listingsdonothavetoanswerthisquestion). If your response is "No" and the securities have anyunusual terms, you should approach ASX as soon aspossible for confirmation under listing rule 6.1 that thetermsare appropriateand equitable.		N/A
3B.8a	Ordinaryfullyorpartlypaidshares/unitsdetails AnswerthequestionsinthissectionifyouselectedthissecuritytypeinyourresponsetoQuestion3B.2.
	*+Securitycurrency This is the currency in which the face amount of anissue is denominated. It will also typically be thecurrencyinwhichdistributionsaredeclared.	N/A
	*WilltherebeCDIs issuedoverthe +securities?	N/A
	*CDIratio Answer this question if you answered "Yes" to theprevious question. This is the ratio at which CDIs canbe transmuted into the underlying security (e.g. 4:1means 4 CDIs represent 1 underlying securitywhereas 1:4 means 1 CDI represents 4 underlyingsecurities).	N/A
	*Isitapartlypaidclassof+security?	N/A
	*Paidupamount:unpaidamount Answer this question if answered "Yes" to thepreviousquestion. The paid up amount represents the amount ofapplication money and/or calls which have been paidonanysecurityconsidered'partly paid' The unpaid amount represents the unpaid or yet to becalledamountonanysecurityconsidered'partlypaid'. The amounts should be provided per the securitycurrency (e.g. if the security currency is AUD, then thepaidupandunpaid amountpersecurityinAUD).	N/A
	*Isitastapled+security? This is a security class that comprises a number ofordinary shares and/or ordinary units issued byseparate entities that are stapled together for thepurposesoftrading.	N/A
3B.8b	Optiondetails AnswerthequestionsinthissectionifyouselectedthissecuritytypeinyourresponsetoQuestion3B.2.
	*+Securitycurrency This is the currency in which the exercise price ispayable.	N/A
	*Exerciseprice The price at which each option can be exercised andconvert into the underlying security. If there is noexercisepriceplease answeras$0.00. The exercise price should be provided per thesecurity currency (i.e. if the security currency is AUD,theexercisepriceshouldbeexpressedinAUD).	N/A
	*Expirydate Thedateonwhichtheoptionsexpireorterminate.	N/A

	*Detailsofthenumberandtypeof +security(includingitsASXsecuritycodeifthe +security is quoted on or recorded byASX) that will be issued if an option isexercised For example, if the option can be exercised to receiveone fully paid ordinary share with ASX security codeABC, please insert "One fully paid ordinary share(ASX:ABC)".	N/A
3B.8c	Detailsofnon-convertible+debtsecurities,+convertibledebtsecurities,orredeemablepreferenceshares/units Answer the questions in this section if you selected one of these security types in your response to Question3B.2. Refer to Guidance Note 34 and the " Guide to the Naming Conventions and Security Descriptions for ASX Quoted Debt and Hybrid Securities " forfurther informationoncertainterms used inthissection
	*Typeof+security Select oneitemfromthelist	☐ Simplecorporatebond ☐ Non-convertiblenoteorbond ☐ Convertiblenoteorbond ☐ Preferenceshare/unit ☐ Capitalnote ☐ Hybridsecurity ☐ Other
	*+Securitycurrency This is the currency in which the face value of thesecurity is denominated. It will also typically be thecurrencyinwhichinterest ordistributions arepaid.	N/A
	Facevalue Thisistheprincipalamountofeach security. The face value should be provided per the securitycurrency (i.e. if security currency is AUD, then thefacevalueper security inAUD).	N/A
	*Interestratetype	☐ Fixedrate
	Select oneitemfromthelist Select the appropriate interest rate type per the termsof the security. Definitions for each type are providedin the Guide to the Naming Conventions and SecurityDescriptions for ASX Quoted Debt and HybridSecurities	☐ Floatingrate ☐ Indexedrate ☐ Variablerate ☐ Zerocoupon/nointerest
		☐ Other
	Frequencyofcoupon/interestpaymentsperyear Select oneitemfromthelist.	☐ Monthly ☐ Quarterly ☐ Semi-annual
		☐ Annual
		☐ Nocoupon/interestpayments
		☐ Other
	Firstinterestpaymentdate A response is not required if you have selected "Nocoupon/interest payments" in response to thequestion above on the frequency of coupon/interestpayments	N/A
	Interestrateperannum Answerthisquestioniftheinterestratetypeisfixed.	N/A

	*Istheinterestrateperannumestimatedatthis time? Answerthisquestioniftheinterestratetypeisfixed.	N/A
	If the interest rate per annum is estimated,then what is the date for this information tobeannounced tothe market(ifknown) Answer this question if the interest rate type is fixedandyourresponsetothepreviousquestionis "Yes". Answer "Unknown" if the date is not known at thistime.	N/A
	*Doestheinterestrateincludeareferencerate, base rate or market rate (e.g. BBSWorCPI)? Answer this question if the interest rate type is floatingorindexed	N/A
	*Whatisthereferencerate,baserateormarketrate? Answer this question if the interest rate type is floatingorindexedand yourresponse tothepreviousquestionis"Yes".	N/A
	*Doestheinterestrateincludeamarginabove the reference rate, base rate ormarketrate? Answer this question if the interest rate type is floatingorindexed.	N/A
	*What is the margin above the referencerate, base rate or market rate (expressedasapercentper annum) Answer this question if the interest rate type is floatingorindexedandyourresponsetothepreviousquestionis"Yes" .	N/A
	*S128FoftheIncomeTaxAssessmentActstatusapplicableto the +security Select oneitemfromthelist For financial products which are likely to give rise to apayment to which s128F of the Income TaxAssessment Act applies, ASX requests issuers toconfirmthes128Fstatusofthesecurity: · "s128F exempt" means interest payments are nottaxableto non-residents; · "Not s128F exempt" means interest payments aretaxableto non-residents; · "s128F exemption status unknown" means theissueris unableto advisethestatus; · "Not applicable" means s128F is not applicable tothissecurity	☐ s128Fexempt ☐ Nots128F exempt ☐ s128Fexemptionstatusunknown ☐ Notapplicable
	*Isthe+securityperpetual(i.e.nomaturitydate)?	N/A
	*Maturitydate Answerthisquestionifthesecurity is notperpetual	N/A

	*Selectotherfeaturesapplicabletothe +security Up to 4 features can be selected. Further informationis available in the Guide to the Naming Conventionsand Security Descriptions for ASX Quoted Debt andHybridSecurities.	☐ Simple ☐ Subordinated ☐ Secured ☐ Converting ☐ Convertible ☐ Transformable ☐ Exchangeable ☐ Cumulative ☐ Non-Cumulative ☐ Redeemable ☐ Extendable ☐ Reset ☐ Step-Down ☐ Step-Up ☐ Stapled ☐ Noneoftheabove
	*Isthereafirsttriggerdateonwhicharightof conversion, redemption, call or put canbeexercised(whicheverisfirst)?	N/A
	*Ifyes,whatisthefirsttriggerdate Answer this question if your response to the previousquestionis"Yes" .	N/A
	Details of the number and type of +security(includingitsASXsecuritycodeifthe +security is quoted on ASX) that will beissued if the securities to be quoted areconverted,transformedorexchanged Answer this question if the security features include"converting", "convertible", "transformable" or"exchangeable". For example, if the security can be converted into1,000 fully paid ordinary shares with ASX securitycode ABC, please insert "1,000 fully paid ordinaryshares(ASX:ABC)".	N/A

Part 4 - Issue details

QuestionNo.	Question	Answer
4.1	*Havethe+securitiesbeenissuedyet?	Yes
4.1a	*Whatwastheirdateofissue? Answer this question if your response to Q4.1 is"Yes".	10May2021
4.1b	*Whatistheirproposeddateofissue? AnswerthisquestionifyourresponsetoQ4.1is"No".	N/A
4.2	*Arethe+securitiesbeingissuedforacashconsideration? If the securities are being issued for nil cashconsideration,answerthisquestion"No".	No

4.2a	*Inwhatcurrencyisthecashconsiderationbeingpaid For example, if the consideration is being paid inAustralianDollars,stateAUD. Answer this question if your response to Q4.2 is"Yes".	N/A
4.2b	*Whatistheissuepriceper+security Answer this question if your response to Q4.2 is "Yes"and by reference to the issue currency provided inyourresponse toQ4.2a. Note: you cannot enter a nil amount here. If thesecurities are being issued for nil cash consideration,answerQ4.2 as"No" andcomplete Q4.2c.	N/A
4.2c	Pleasedescribetheconsiderationbeingprovidedforthe+securities AnswerthisquestionifyourresponsetoQ4.2is"No".	No consideration provided. Issued asincentiveasperServicesAgreementdated1 January and as announced on the 13January2021
4.3	Anyotherinformationtheentitywishestoprovide aboutthe issue	N/A

Part 5 - Unquoted +securities on issue

Followingtheissueofthe+securitiesthesubjectofthisapplication,theunquotedissued+securitiesoftheentity willcomprise: Note: the figures provided in the table in section 5.1 below are used to calculate part of the total market capitalisation of theentity published by ASX from time to time. Please make sure you include in the table each class of unquoted securities issuedbythe entity. Restrictedsecuritiesshouldbeincludedintable5.1.

5.1

*ASXsecuritycodeanddescription  *Totalnumberof+securitiesonissue MXCUnlistedOptions($0.15,30June2021)  10,000,000 MXCUnlistedOptions($0.05,31August2023)  16,300,000 MXCUnlistedOptions($0.06,31August2023)  17,500,000 MXCUnlistedOptions($0.07,31August2023)  17,500,000MXCUnlistedOptions($0.026,31March2023)*  7,692,308MXCUnlistedOptions(£0.01475,31March2023)  26,440,678MXCPerformanceRights(BM/RZ)*  10,000,000 MXC2020IncentivePerformanceRights*  14,550,000 MXC2021AIncentivePerformanceRights*  3,725,000MXC2021BIncentivePerformanceRights*  9,275,000 ConvertibleNotes  3,850,000 *Vestingconditionsattached,notyetmet

Part 6 - Other Listing Rule requirements

The questions in this Part should only be answered if you are an ASX Listing (ASX Foreign Exempt Listings and ASX Debt Listings do not need to complete this Part) and:

-  your response to Q2.1 is "+securities issued under an +employee incentive scheme that are not being immediately quoted on ASX"; or

-  your response to Q2.1 is "Other"

QuestionNo.	Question	Answer
6.1	*Are the securities being issued underListingRule7.2exception13 1   andthereforethe issue does not need any security holderapprovalunderListingRule 7.1? Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	Yes
6.2	*Hastheentityobtained,orisitobtaining, +securityholderapprovalfortheissueunderlisting rule7.1? AnswerthisquestioniftheresponsetoQ6.1is "No".	N/A
6.2a	*Dateofmeetingorproposedmeetingtoapprovetheissueunder listingrule7.1 Answer this question if the response to Q6.1 is "No"andthe responseto Q6.2is"Yes".	31March2021
6.2b	*Are any of the +securities being issuedwithout+securityholderapprovalusingtheentity's 15% placement capacity underlistingrule7.1? Answer this question if the response to Q6.1 is "No"andthe responsetoQ6.2 is"No".	N/A

1  Exception 13  An issue of securities under an employee incentive scheme if within 3 years before the issue date:

(a)  in the case of a scheme established before the entity was listed - a summary of the terms of the scheme and the maximum number of equity securities proposed to be issued under the scheme were set out in the prospectus, PDS or information memorandum lodged with ASX under rule 1.1 condition 3; or

(b)  the holders of the entity's ordinary securities have approved the issue of equity securities under the scheme as an exception to this rule. The notice of meeting must have included:

· a summary of the terms of the scheme.

· the number of securities issued under the scheme since the entity was listed or the date of the last approval under this rule;

· the maximum number of +equity securities proposed to be issued under the scheme following the approval; and

· a voting exclusion statement.

Exception 13 is only available if and to the extent that the number of +equity securities issued under the scheme does not exceed the maximum number set out in the entity's prospectus, PDS or information memorandum (in the case of (a) above) or in the notice of meeting (in the case of (b) above).

Exception 13 ceases to be available if there is a material change to the terms of the scheme from those set out in the entity's prospectus, PDS or information memorandum (in the case of (a) above) or in the notice of meeting (in the case of (b) above).

6.2b.1	*How many +securities are being issuedwithout+securityholderapprovalusingtheentity's 15% placement capacity underlistingrule7.1? Answer this question if the response to Q6.1 is "No",the response to Q6.2 is "No" and the response toQ6.2bis"Yes". Please complete and separately send by email to yourASX listings adviser a work sheet in the form ofAnnexure B to Guidance Note 21 confirming the entityhas the available capacity under listing rule 7.1 to issuethatnumber ofsecurities.	N/A
6.2c	*Are any of the +securities being issuedwithout+securityholderapprovalusingtheentity's additional 10% placement capacityunder listing rule7.1A(ifapplicable)? Answer this question if the response to Q6.1 is "No"andthe responsetoQ6.2 is"No".	N/A
6.2c.1	*How many +securities are being issuedwithout+securityholderapprovalusingtheentity's additional 10% placement capacityunderlisting rule7.1A? Answer this question if the response to Q6.1 is "No",the response to Q6.2 is "No" and the response toQ6.2cis "Yes". Please complete and separately send by email to yourASX listings adviser a work sheet in the form ofAnnexure C to Guidance Note 21 confirming the entityhas the available capacity under listing rule 7.1A toissuethatnumberofsecurities.	N/A

Introduced 01/12/19; amended 31/01/20

Appendix 3G

Notification of issue, conversion or payment up of equity

+securities

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

If you are an entity incorporated outside Australia and you are issuing a new class of +securities other than CDIs, you will need to obtain and provide an International Securities Identification Number (ISIN) for that class. Further information on the requirement for the notification of an ISIN is available from the Create Online Forms page. ASX is unable to create the new ISIN for non-Australian issuers.

*Denotes minimum information required for first lodgement of this form, with exceptions provided in specific notes for certain questions. The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Part 1 - Entity and announcement details

Questionno	Question	Answer
1.1	*Nameofentity We (the entity here named) give notice of the issue,conversionorpayment upofthefollowingunquoted +securities.	MGCPharmaceuticalsLtd
1.2	*Registrationtypeandnumber Please supply your ABN, ARSN, ARBN, ACN oranother registration type and number (if you supplyanother registration type, please specify both the typeofregistrationand theregistrationnumber).	ABN 30116800269
1.3	*ASXissuercode	MXC
1.4	*Thisannouncementis Tickwhicheverisapplicable.	☒ Anew announcement ☐ Anupdate/amendmenttoapreviousannouncement ☐ Acancellationof apreviousannouncement
1.4a	*Reasonforupdate Mandatory only if "Update" ticked in Q1.4 above. Areasonmustbe providedfor anupdate.	N/A
1.4b	*Dateofpreviousannouncementtothisupdate Mandatoryonlyif"Update"tickedinQ1.4above.	N/A
1.4c	*Reasonforcancellation Mandatoryonlyif"Cancellation"tickedinQ1.4above.	N/A
1.4d	*Dateofpreviousannouncementtothiscancellation Mandatoryonlyif"Cancellation"tickedinQ1.4above.	N/A
1.5	*Dateofthisannouncement	14May2021

Part 2 - Type of issue

QuestionNo.	Question	Answer
2.1	*The+securitiesthesubjectofthisnotification are: Selectwhicheveritemis applicable. If you wish to notify ASX of different types of issues ofsecurities, please complete a separate Appendix 3Gforeachtype ofissue.	☐ +Securities issued as a result of optionsbeingexercisedor other+convertible +securitiesbeingconvertedandthatarenottobe quotedonASX ☐ Partlypaid+securitiesthathavebeenfully paid up and that are not to bequotedonASX ☒ +Securities issued under an +employeeincentive scheme that are not beingimmediatelyquotedonASX ☐ Other[pleasespecify] If you have selected 'other' please provide thecircumstancesofthe issuehere :
2.2a.1	Pleasestatethenumberandtypeofoptionsthatwereexercisedorother +convertiblesecuritiesthatwereconverted(including their ASX security code ifavailable)? Answer this question if your response to Q2.1 is"securities issued as a result of options beingexercised or other convertible securities beingconvertedandthatarenottobequotedonASX".	N/A
2.2a.2	Andthedatetheoptionswereexercisedorother +convertible securities wereconverted: Answer this question if your response to Q2.1 is"securities issued as a result of options beingexercised or other convertible securities beingconvertedandthatarenottobequotedonASX". Note: If this occurred over a range of dates, enter thedate the last of the options was exercised orconvertiblesecuritieswasconverted.	N/A
2.2b.1	Pleasestatethenumberandtypeofpartlypaid +securities that were fully paid up(including their ASX security code ifavailable)? Answer this question if your response to Q2.1 is"partly paid securities that have been paid up and thatarenottobe quotedon ASX".	N/A
2.2b.2	And the date the + securities were fully paidup: Answer this question if your response to Q2.1 is"partly paid securities that have been paid up and thatarenottobe quotedon ASX". Note: If this occurred over a range of dates, enter thedatethelastofthesecuritieswasfullypaidup.	N/A

2.2c.1	Pleasestatethenumberandtypeof +securities(includingtheirASXsecuritycode) issued under an +employeeincentive scheme that are not beingimmediatelyquotedonASX Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	27,550,000MXCPerformanceRights
2.2c.2	*Please attach a document or providedetailsofaURLlinkforadocumentlodgedwith ASX detailingtheterms ofthe +employeeincentiveschemeorasummaryof the terms. Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	https://www.asx.com.au/asxpdf/20210409/p df/44vd7kb3txr5hp.pdf https://www.asx.com.au/asxpdf/20210225/p df/44t386c29jmbx3.pdf
2.2c.3	*Areanyofthese+securitiesbeingissuedto +key management personnel (KMP) oran+associate Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	No
2.2c.3.a	*Providedetails oftherecipients andthenumberof+securitiesissuedtoeachofthem. Answer this question if your response to Q2.1 is "securities issued under an employee incentive scheme that arenot being immediately quoted on ASX" and your response to Q2.2c.3 is "Yes". Repeat the detail in the tablebelow for each KMP involved in the issue. If the securities are being issued to the KMP, repeat the name of theKMP or insert "Same" in "Name of registered holder". If the securities are being issued to an associate of a KMP,insertthe name oftheassociatein"Name ofregistered holder".
2.2d.1	* Thepurpose(s)forwhichtheentity isissuing the +securities is: Answer this question if your response to Q2.1 is"Other". Youmayselectone ormoreoftheitemsinthelist.	☐ Toraiseadditionalworkingcapital ☐ Tofund theretirementofdebt ☐ Topayfortheacquisitionofanasset[provide detailsbelow] ☐ Topayforservicesrendered ☐ Other[providedetailsbelow]
2.2d.2	Please provide any further informationneededtounderstandthecircumstancesinwhichyouarenotifyingtheissueofthese +securitiestoASX,including(ifapplicable)why the issue of the +securities has notbeen previously announced to the marketinanAppendix 3B You must answer this question if your response toQ2.1 is "Other". If there is no other information toprovide,pleaseanswer"Not applicable"or"N/A".	N/A

2.3

*The+securitiesbeingissuedare: Tickwhicheverisapplicable

☒ Additional+securitiesin anexistingunquotedclassthatisalreadyrecordedbyASX("existingclass") ☐ New +securities in an unquoted classthatisnotyetrecordedby ASX("newclass")

Part 3A - number and type of +securities being issued (existing class)

Answer the questions in this part if your response to Q2.3 is "existing class".

QuestionNo.	Question	Answer
3A.1	*ASXsecuritycode&description	MXC:PERFORMANCERIGHTS
3A.2	*Numberof+securitiesbeingissued	27,550,000
3A.3a	*Will the +securities being issued rankequallyinallrespectsfromtheirissuedatewith the existing issued +securities in thatclass?	Yes
3A.3b	*Istheactualdatefromwhichthe +securitieswillrankequally(non-rankingend date) known? Answer this question if your response to Q3A.3a is"No".	N/A
3A.3c	*Providetheactualnon-rankingenddate Answer this question if your response to Q3A.3a is"No"and yourresponsetoQ3A.3bis"Yes".	N/A
3A.3d	*Providetheestimatednon-rankingendperiod Answer this question if your response to Q3A.3a is"No"and yourresponseto Q3A.3bis "No".	N/A
3A.3e	*Pleasestatetheextenttowhichthe +securitiesdonotrankequally: · in relation to the next dividend,distributionorinterestpayment;or · foranyotherreason Answer this question if your response to Q3A.3a is"No". For example, the securities may not rank at all, or mayrank proportionately based on the percentage of theperiod in question they have been on issue, for thenext dividend, distribution or interest payment; or theymay not be entitled to participate in some other event,suchasan entitlementissue.	N/A

Part 3B - number and type of +securities being issued (new class)

Answer the questions in this part if your response to Q2.3 is "new class".

QuestionNo.	Question	Answer
3B.1	*Securitydescription	N/A

3B.2	*Securitytype Select one item from the list that best describes thesecurities the subject of this form. This will determinemore detailed questions to be asked about the securitylater in this section. Select "ordinary fully or partly paidshares/units" for stapled securities or CDIs. For interestrate securities, please select the appropriate choicefrom either "Convertible debt securities" or "Non-convertible debt securities". Select "Other" forperformance shares/units and performanceoptions/rights or if the selections available in the list donot appropriatelydescribethesecuritybeingissued.	☐ Ordinaryfullyorpartlypaidshares/units ☐ Options ☐ +Convertibledebtsecurities ☐ Non-convertible+debtsecurities ☐ Redeemablepreferenceshares/units ☐ Other
3B.3	ISINcode Answer this question if you are an entity incorporatedoutside Australia and you are issuing a new class ofsecurities other than CDIs. See also the note at the topofthis form.	N/A
3B.4	*Numberof+securitiesbeingissued	N/A
3B.5a	*Willallthe+securitiesissuedinthisclassrank equally in all respects from the issuedate?	N/A
3B.5b	*Istheactualdatefromwhichthe +securitieswillrankequally(non-rankingend date) known? Answer this question if your response to Q3B.5a is"No".	N/A
3B.5c	*Providetheactualnon-rankingenddate Answer this question if your response to Q3B.5a is"No"and yourresponsetoQ3B.5bis"Yes".	N/A
3B.5d	*Providetheestimatednon-rankingendperiod Answer this question if your response to Q3B.5a is"No"and yourresponseto Q3B.5bis "No".	N/A
3B.5e	*Pleasestatetheextenttowhichthe +securitiesdonotrankequally: · in relation to the next dividend,distributionorinterestpayment;or · foranyotherreason Answer this question if your response to Q3B.5a is"No". Forexample,thesecuritiesmaynot rankatall,ormayrank proportionately based on the percentage of theperiod in question they have been on issue, for thenext dividend, distribution or interest payment; or theymay not be entitled to participate in some other event,suchasan entitlementissue.	N/A
3B.6	PleaseattachadocumentorprovideaURLlink for a document lodged with ASX settingout the material terms of the +securitiesbeing issued You may cross reference a disclosure document, PDS,information memorandum, investor presentation orother announcement with this information provided ithas been released to the ASX Market AnnouncementsPlatform.	N/A

3B.7	*HaveyoureceivedconfirmationfromASXthat the terms of the +securities areappropriateandequitableunderlistingrule6.1? Answer this question only if you are an ASX Listing.(ASX Foreign Exempt Listings and ASX Debt Listingsdonothavetoanswerthisquestion). If your response is "No" and the securities have anyunusual terms, you should approach ASX as soon aspossible for confirmation under listing rule 6.1 that thetermsare appropriateand equitable.		N/A
3B.8a	Ordinaryfullyorpartlypaidshares/unitsdetails AnswerthequestionsinthissectionifyouselectedthissecuritytypeinyourresponsetoQuestion3B.2.
	*+Securitycurrency This is the currency in which the face amount of anissue is denominated. It will also typically be thecurrencyinwhichdistributionsaredeclared.	N/A
	*WilltherebeCDIs issuedoverthe +securities?	N/A
	*CDIratio Answer this question if you answered "Yes" to theprevious question. This is the ratio at which CDIs canbe transmuted into the underlying security (e.g. 4:1means 4 CDIs represent 1 underlying securitywhereas 1:4 means 1 CDI represents 4 underlyingsecurities).	N/A
	*Isitapartlypaidclassof+security?	N/A
	*Paidupamount:unpaidamount Answer this question if answered "Yes" to thepreviousquestion. The paid up amount represents the amount ofapplication money and/or calls which have been paidonanysecurityconsidered'partly paid' The unpaid amount represents the unpaid or yet to becalledamountonanysecurityconsidered'partlypaid'. The amounts should be provided per the securitycurrency (e.g. if the security currency is AUD, then thepaidupandunpaid amountpersecurityinAUD).	N/A
	*Isitastapled+security? This is a security class that comprises a number ofordinary shares and/or ordinary units issued byseparate entities that are stapled together for thepurposesoftrading.	N/A
3B.8b	Optiondetails AnswerthequestionsinthissectionifyouselectedthissecuritytypeinyourresponsetoQuestion3B.2.
	*+Securitycurrency This is the currency in which the exercise price ispayable.	N/A
	*Exerciseprice The price at which each option can be exercised andconvert into the underlying security. If there is noexercisepriceplease answeras$0.00. The exercise price should be provided per thesecurity currency (i.e. if the security currency is AUD,theexercisepriceshouldbeexpressedinAUD).	N/A
	*Expirydate Thedateonwhichtheoptionsexpireorterminate.	N/A

	*Detailsofthenumberandtypeof +security(includingitsASXsecuritycodeifthe +security is quoted on or recorded byASX) that will be issued if an option isexercised For example, if the option can be exercised to receiveone fully paid ordinary share with ASX security codeABC, please insert "One fully paid ordinary share(ASX:ABC)".	N/A
3B.8c	Detailsofnon-convertible+debtsecurities,+convertibledebtsecurities,orredeemablepreferenceshares/units Answer the questions in this section if you selected one of these security types in your response to Question3B.2. Refer to Guidance Note 34 and the " Guide to the Naming Conventions and Security Descriptions for ASX Quoted Debt and Hybrid Securities " forfurther informationoncertainterms used inthissection
	*Typeof+security Select oneitemfromthelist	☐ Simplecorporatebond ☐ Non-convertiblenoteorbond ☐ Convertiblenoteorbond ☐ Preferenceshare/unit ☐ Capitalnote ☐ Hybridsecurity ☐ Other
	*+Securitycurrency This is the currency in which the face value of thesecurity is denominated. It will also typically be thecurrencyinwhichinterest ordistributions arepaid.	N/A
	Facevalue Thisistheprincipalamountofeach security. The face value should be provided per the securitycurrency (i.e. if security currency is AUD, then thefacevalueper security inAUD).	N/A
	*Interestratetype	☐ Fixedrate
	Select oneitemfromthelist Select the appropriate interest rate type per the termsof the security. Definitions for each type are providedin the Guide to the Naming Conventions and SecurityDescriptions for ASX Quoted Debt and HybridSecurities	☐ Floatingrate ☐ Indexedrate ☐ Variablerate ☐ Zerocoupon/nointerest
		☐ Other
	Frequencyofcoupon/interestpaymentsperyear Select oneitemfromthelist.	☐ Monthly ☐ Quarterly ☐ Semi-annual
		☐ Annual
		☐ Nocoupon/interestpayments
		☐ Other
	Firstinterestpaymentdate A response is not required if you have selected "Nocoupon/interest payments" in response to thequestion above on the frequency of coupon/interestpayments	N/A
	Interestrateperannum Answerthisquestioniftheinterestratetypeisfixed.	N/A

	*Istheinterestrateperannumestimatedatthis time? Answerthisquestioniftheinterestratetypeisfixed.	N/A
	If the interest rate per annum is estimated,then what is the date for this information tobeannounced tothe market(ifknown) Answer this question if the interest rate type is fixedandyourresponsetothepreviousquestionis "Yes". Answer "Unknown" if the date is not known at thistime.	N/A
	*Doestheinterestrateincludeareferencerate, base rate or market rate (e.g. BBSWorCPI)? Answer this question if the interest rate type is floatingorindexed	N/A
	*Whatisthereferencerate,baserateormarketrate? Answer this question if the interest rate type is floatingorindexedand yourresponse tothepreviousquestionis"Yes".	N/A
	*Doestheinterestrateincludeamarginabove the reference rate, base rate ormarketrate? Answer this question if the interest rate type is floatingorindexed.	N/A
	*What is the margin above the referencerate, base rate or market rate (expressedasapercentper annum) Answer this question if the interest rate type is floatingorindexedandyourresponsetothepreviousquestionis"Yes" .	N/A
	*S128FoftheIncomeTaxAssessmentActstatusapplicableto the +security Select oneitemfromthelist For financial products which are likely to give rise to apayment to which s128F of the Income TaxAssessment Act applies, ASX requests issuers toconfirmthes128Fstatusofthesecurity: · "s128F exempt" means interest payments are nottaxableto non-residents; · "Not s128F exempt" means interest payments aretaxableto non-residents; · "s128F exemption status unknown" means theissueris unableto advisethestatus; · "Not applicable" means s128F is not applicable tothissecurity	☐ s128Fexempt ☐ Nots128F exempt ☐ s128Fexemptionstatusunknown ☐ Notapplicable
	*Isthe+securityperpetual(i.e.nomaturitydate)?	N/A
	*Maturitydate Answerthisquestionifthesecurity is notperpetual	N/A

	*Selectotherfeaturesapplicabletothe +security Up to 4 features can be selected. Further informationis available in the Guide to the Naming Conventionsand Security Descriptions for ASX Quoted Debt andHybridSecurities.	☐ Simple ☐ Subordinated ☐ Secured ☐ Converting ☐ Convertible ☐ Transformable ☐ Exchangeable ☐ Cumulative ☐ Non-Cumulative ☐ Redeemable ☐ Extendable ☐ Reset ☐ Step-Down ☐ Step-Up ☐ Stapled ☐ Noneoftheabove
	*Isthereafirsttriggerdateonwhicharightof conversion, redemption, call or put canbeexercised(whicheverisfirst)?	N/A
	*Ifyes,whatisthefirsttriggerdate Answer this question if your response to the previousquestionis"Yes" .	N/A
	Details of the number and type of +security(includingitsASXsecuritycodeifthe +security is quoted on ASX) that will beissued if the securities to be quoted areconverted,transformedorexchanged Answer this question if the security features include"converting", "convertible", "transformable" or"exchangeable". For example, if the security can be converted into1,000 fully paid ordinary shares with ASX securitycode ABC, please insert "1,000 fully paid ordinaryshares(ASX:ABC)".	N/A

Part 4 - Issue details

QuestionNo.	Question	Answer
4.1	*Havethe+securitiesbeenissuedyet?	Yes
4.1a	*Whatwastheirdateofissue? Answer this question if your response to Q4.1 is"Yes".	10May2021
4.1b	*Whatistheirproposeddateofissue? AnswerthisquestionifyourresponsetoQ4.1is"No".	N/A
4.2	*Arethe+securitiesbeingissuedforacashconsideration? If the securities are being issued for nil cashconsideration,answerthisquestion"No".	No

4.2a	*Inwhatcurrencyisthecashconsiderationbeingpaid For example, if the consideration is being paid inAustralianDollars,stateAUD. Answer this question if your response to Q4.2 is"Yes".	N/A
4.2b	*Whatistheissuepriceper+security Answer this question if your response to Q4.2 is "Yes"and by reference to the issue currency provided inyourresponse toQ4.2a. Note: you cannot enter a nil amount here. If thesecurities are being issued for nil cash consideration,answerQ4.2 as"No" andcomplete Q4.2c.	N/A
4.2c	Pleasedescribetheconsiderationbeingprovidedforthe+securities AnswerthisquestionifyourresponsetoQ4.2is"No".	No consideration provided. Issued toemployeesandmanagementtoincentiviseand retain them, forming part of theirremuneration.
4.3	Anyotherinformationtheentitywishestoprovide aboutthe issue	N/A

Part 5 - Unquoted +securities on issue

Followingtheissueofthe+securitiesthesubjectofthisapplication,theunquotedissued+securitiesoftheentity willcomprise: Note: the figures provided in the table in section 5.1 below are used to calculate part of the total market capitalisation of theentity published by ASX from time to time. Please make sure you include in the table each class of unquoted securities issuedbythe entity. Restrictedsecuritiesshouldbeincludedintable5.1.

5.1

*ASXsecuritycodeanddescription  *Totalnumberof+securitiesonissue MXCUnlistedOptions($0.15,30June2021)  10,000,000 MXCUnlistedOptions($0.05,31August2023)  16,300,000 MXCUnlistedOptions($0.06,31August2023)  17,500,000 MXCUnlistedOptions($0.07,31August2023)  17,500,000MXCUnlistedOptions($0.026,31March2023)*  7,692,308MXCUnlistedOptions(£0.01475,31March2023)  26,440,678MXCPerformanceRights(BM/RZ)*  10,000,000 MXC2020IncentivePerformanceRights*  14,550,000 MXC2021AIncentivePerformanceRights*  3,725,000MXC2021BIncentivePerformanceRights*  9,275,000 ConvertibleNotes  3,850,000 *Vestingconditionsattached,notyetmet

Part 6 - Other Listing Rule requirements

The questions in this Part should only be answered if you are an ASX Listing (ASX Foreign Exempt Listings and ASX Debt Listings do not need to complete this Part) and:

-  your response to Q2.1 is "+securities issued under an +employee incentive scheme that are not being immediately quoted on ASX"; or

-  your response to Q2.1 is "Other"

QuestionNo.	Question	Answer
6.1	*Are the securities being issued underListingRule7.2exception13 1   andthereforethe issue does not need any security holderapprovalunderListingRule 7.1? Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	Yes
6.2	*Hastheentityobtained,orisitobtaining, +securityholderapprovalfortheissueunderlisting rule7.1? AnswerthisquestioniftheresponsetoQ6.1is "No".	N/A
6.2a	*Dateofmeetingorproposedmeetingtoapprovetheissueunder listingrule7.1 Answer this question if the response to Q6.1 is "No"andthe responseto Q6.2is"Yes".	31March2021
6.2b	*Are any of the +securities being issuedwithout+securityholderapprovalusingtheentity's 15% placement capacity underlistingrule7.1? Answer this question if the response to Q6.1 is "No"andthe responsetoQ6.2 is"No".	N/A

1  Exception 13  An issue of securities under an employee incentive scheme if within 3 years before the issue date:

(a)  in the case of a scheme established before the entity was listed - a summary of the terms of the scheme and the maximum number of equity securities proposed to be issued under the scheme were set out in the prospectus, PDS or information memorandum lodged with ASX under rule 1.1 condition 3; or

(b)  the holders of the entity's ordinary securities have approved the issue of equity securities under the scheme as an exception to this rule. The notice of meeting must have included:

· a summary of the terms of the scheme.

· the number of securities issued under the scheme since the entity was listed or the date of the last approval under this rule;

· the maximum number of +equity securities proposed to be issued under the scheme following the approval; and

· a voting exclusion statement.

Exception 13 is only available if and to the extent that the number of +equity securities issued under the scheme does not exceed the maximum number set out in the entity's prospectus, PDS or information memorandum (in the case of (a) above) or in the notice of meeting (in the case of (b) above).

Exception 13 ceases to be available if there is a material change to the terms of the scheme from those set out in the entity's prospectus, PDS or information memorandum (in the case of (a) above) or in the notice of meeting (in the case of (b) above).

6.2b.1	*How many +securities are being issuedwithout+securityholderapprovalusingtheentity's 15% placement capacity underlistingrule7.1? Answer this question if the response to Q6.1 is "No",the response to Q6.2 is "No" and the response toQ6.2bis"Yes". Please complete and separately send by email to yourASX listings adviser a work sheet in the form ofAnnexure B to Guidance Note 21 confirming the entityhas the available capacity under listing rule 7.1 to issuethatnumber ofsecurities.	N/A
6.2c	*Are any of the +securities being issuedwithout+securityholderapprovalusingtheentity's additional 10% placement capacityunder listing rule7.1A(ifapplicable)? Answer this question if the response to Q6.1 is "No"andthe responsetoQ6.2 is"No".	N/A
6.2c.1	*How many +securities are being issuedwithout+securityholderapprovalusingtheentity's additional 10% placement capacityunderlisting rule7.1A? Answer this question if the response to Q6.1 is "No",the response to Q6.2 is "No" and the response toQ6.2cis "Yes". Please complete and separately send by email to yourASX listings adviser a work sheet in the form ofAnnexure C to Guidance Note 21 confirming the entityhas the available capacity under listing rule 7.1A toissuethatnumberofsecurities.	N/A

Introduced 01/12/19; amended 31/01/20

Appendix 3G

Notification of issue, conversion or payment up of equity

+securities

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

If you are an entity incorporated outside Australia and you are issuing a new class of +securities other than CDIs, you will need to obtain and provide an International Securities Identification Number (ISIN) for that class. Further information on the requirement for the notification of an ISIN is available from the Create Online Forms page. ASX is unable to create the new ISIN for non-Australian issuers.

*Denotes minimum information required for first lodgement of this form, with exceptions provided in specific notes for certain questions. The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Part 1 - Entity and announcement details

Questionno	Question	Answer
1.1	*Nameofentity We (the entity here named) give notice of the issue,conversionorpayment upofthefollowingunquoted +securities.	MGCPharmaceuticalsLtd
1.2	*Registrationtypeandnumber Please supply your ABN, ARSN, ARBN, ACN oranother registration type and number (if you supplyanother registration type, please specify both the typeofregistrationand theregistrationnumber).	ABN 30116800269
1.3	*ASXissuercode	MXC
1.4	*Thisannouncementis Tickwhicheverisapplicable.	☒ Anew announcement ☐ Anupdate/amendmenttoapreviousannouncement ☐ Acancellationof apreviousannouncement
1.4a	*Reasonforupdate Mandatory only if "Update" ticked in Q1.4 above. Areasonmustbe providedfor anupdate.	N/A
1.4b	*Dateofpreviousannouncementtothisupdate Mandatoryonlyif"Update"tickedinQ1.4above.	N/A
1.4c	*Reasonforcancellation Mandatoryonlyif"Cancellation"tickedinQ1.4above.	N/A
1.4d	*Dateofpreviousannouncementtothiscancellation Mandatoryonlyif"Cancellation"tickedinQ1.4above.	N/A
1.5	*Dateofthisannouncement	14May2021

Part 2 - Type of issue

QuestionNo.	Question	Answer
2.1	*The+securitiesthesubjectofthisnotification are: Selectwhicheveritemis applicable. If you wish to notify ASX of different types of issues ofsecurities, please complete a separate Appendix 3Gforeachtype ofissue.	☐ +Securities issued as a result of optionsbeingexercisedor other+convertible +securitiesbeingconvertedandthatarenottobe quotedonASX ☐ Partlypaid+securitiesthathavebeenfully paid up and that are not to bequotedonASX ☐ +Securities issued under an +employeeincentive scheme that are not beingimmediatelyquotedonASX ☒ Other[pleasespecify] If you have selected 'other' please provide thecircumstancesofthe issuehere : InlieuofbrokeringservicesrelatingtoLSEPlacement and as detailed in ASXannouncementdated 09April2021.
2.2a.1	Pleasestatethenumberandtypeofoptionsthatwereexercisedorother +convertiblesecuritiesthatwereconverted(including their ASX security code ifavailable)? Answer this question if your response to Q2.1 is"securities issued as a result of options beingexercised or other convertible securities beingconvertedandthatarenottobequotedonASX".	N/A
2.2a.2	Andthedatetheoptionswereexercisedorother +convertible securities wereconverted: Answer this question if your response to Q2.1 is"securities issued as a result of options beingexercised or other convertible securities beingconvertedandthatarenottobequotedonASX". Note: If this occurred over a range of dates, enter thedate the last of the options was exercised orconvertiblesecuritieswasconverted.	N/A
2.2b.1	Pleasestatethenumberandtypeofpartlypaid +securities that were fully paid up(including their ASX security code ifavailable)? Answer this question if your response to Q2.1 is"partly paid securities that have been paid up and thatarenottobe quotedon ASX".	N/A
2.2b.2	And the date the + securities were fully paidup: Answer this question if your response to Q2.1 is"partly paid securities that have been paid up and thatarenottobe quotedon ASX". Note: If this occurred over a range of dates, enter thedatethelastofthesecuritieswasfullypaidup.	N/A

2.2c.1	Pleasestatethenumberandtypeof +securities(includingtheirASXsecuritycode) issued under an +employeeincentive scheme that are not beingimmediatelyquotedonASX Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	26,440,678MXCUnlistedshareoptions
2.2c.2	*Please attach a document or providedetailsofaURLlinkforadocumentlodgedwith ASX detailingtheterms ofthe +employeeincentiveschemeorasummaryof the terms. Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	N/A
2.2c.3	*Areanyofthese+securitiesbeingissuedto +key management personnel (KMP) oran+associate Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	No
2.2c.3.a	*Providedetails oftherecipients andthenumberof+securitiesissuedtoeachofthem. Answer this question if your response to Q2.1 is "securities issued under an employee incentive scheme that arenot being immediately quoted on ASX" and your response to Q2.2c.3 is "Yes". Repeat the detail in the tablebelow for each KMP involved in the issue. If the securities are being issued to the KMP, repeat the name of theKMP or insert "Same" in "Name of registered holder". If the securities are being issued to an associate of a KMP,insertthe name oftheassociatein"Name ofregistered holder".
2.2d.1	* Thepurpose(s)forwhichtheentity isissuing the +securities is: Answer this question if your response to Q2.1 is"Other". Youmayselectone ormoreoftheitemsinthelist.	☐ Toraiseadditionalworkingcapital ☐ Tofund theretirementofdebt ☐ Topayfortheacquisitionofanasset[provide detailsbelow] ☐ Topayforservicesrendered ☒ Other [provide details below]Additionaldetails: AspreviouslyannouncedtothemarketinAppendix3Bdated 8 April 2021
2.2d.2	Please provide any further informationneededtounderstandthecircumstancesinwhichyouarenotifyingtheissueofthese +securitiestoASX,including(ifapplicable)why the issue of the +securities has notbeen previously announced to the marketinanAppendix 3B You must answer this question if your response toQ2.1 is "Other". If there is no other information toprovide,pleaseanswer"Not applicable"or"N/A".	Issue of lead manager options to TurnerPope as per Resolution 4 as approved attheGeneralMeetingdated31March2021

2.3

*The+securitiesbeingissuedare: Tickwhicheverisapplicable

☒ Additional+securitiesin anexistingunquotedclassthatisalreadyrecordedbyASX("existingclass") ☐ New +securities in an unquoted classthat is not yet recorded by ASX ("newclass")

Part 3A - number and type of +securities being issued (existing class)

Answer the questions in this part if your response to Q2.3 is "existing class".

QuestionNo.	Question	Answer
3A.1	*ASXsecuritycode&description	MXC:UnlistedOptionsexpiring31March2023 at£0.01475
3A.2	*Numberof+securitiesbeingissued	26,440,678
3A.3a	*Will the +securities being issued rankequallyinallrespectsfromtheirissuedatewith the existing issued +securities in thatclass?	Yes
3A.3b	*Istheactualdatefromwhichthe +securitieswillrankequally(non-rankingend date) known? Answer this question if your response to Q3A.3a is"No".	N/A
3A.3c	*Providetheactualnon-rankingenddate Answer this question if your response to Q3A.3a is"No"and yourresponsetoQ3A.3bis"Yes".	N/A
3A.3d	*Providetheestimatednon-rankingendperiod Answer this question if your response to Q3A.3a is"No"and yourresponseto Q3A.3bis "No".	N/A
3A.3e	*Pleasestatetheextenttowhichthe +securitiesdonotrankequally: · in relation to the next dividend,distributionorinterestpayment;or · foranyotherreason Answer this question if your response to Q3A.3a is"No". For example, the securities may not rank at all, or mayrank proportionately based on the percentage of theperiod in question they have been on issue, for thenext dividend, distribution or interest payment; or theymay not be entitled to participate in some other event,suchasan entitlementissue.	N/A

Part 3B - number and type of +securities being issued (new class)

Answer the questions in this part if your response to Q2.3 is "new class".

QuestionNo.	Question	Answer
3B.1	*Securitydescription	N/A

3B.2	*Securitytype Select one item from the list that best describes thesecurities the subject of this form. This will determinemore detailed questions to be asked about the securitylater in this section. Select "ordinary fully or partly paidshares/units" for stapled securities or CDIs. For interestrate securities, please select the appropriate choicefrom either "Convertible debt securities" or "Non-convertible debt securities". Select "Other" forperformance shares/units and performanceoptions/rights or if the selections available in the list donot appropriatelydescribethesecuritybeingissued.	☐ Ordinaryfullyorpartlypaidshares/units ☐ Options ☐ +Convertibledebtsecurities ☐ Non-convertible+debtsecurities ☐ Redeemablepreferenceshares/units ☐ Other
3B.3	ISINcode Answer this question if you are an entity incorporatedoutside Australia and you are issuing a new class ofsecurities other than CDIs. See also the note at the topofthis form.	N/A
3B.4	*Numberof+securitiesbeingissued	N/A
3B.5a	*Willallthe+securities issuedinthisclassrank equally in all respects from the issuedate?	N/A
3B.5b	*Istheactualdatefromwhichthe +securitieswillrankequally(non-rankingend date) known? Answer this question if your response to Q3B.5a is"No".	N/A
3B.5c	*Providetheactualnon-rankingenddate Answer this question if your response to Q3B.5a is"No"and yourresponsetoQ3B.5bis"Yes".	N/A
3B.5d	*Providetheestimatednon-rankingendperiod Answer this question if your response to Q3B.5a is"No"and yourresponseto Q3B.5bis "No".	N/A
3B.5e	*Pleasestatetheextenttowhichthe +securitiesdonotrankequally: · in relation to the next dividend,distributionorinterestpayment;or · foranyotherreason Answer this question if your response to Q3B.5a is"No". Forexample,thesecuritiesmaynot rankatall,ormayrank proportionately based on the percentage of theperiod in question they have been on issue, for thenext dividend, distribution or interest payment; or theymay not be entitled to participate in some other event,suchasan entitlementissue.	N/A
3B.6	PleaseattachadocumentorprovideaURLlink for a document lodged with ASX settingout the material terms of the +securitiesbeing issued You may cross reference a disclosure document, PDS,information memorandum, investor presentation orother announcement with this information provided ithas been released to the ASX Market AnnouncementsPlatform.	N/A

3B.7	*HaveyoureceivedconfirmationfromASXthat the terms of the +securities areappropriateandequitableunderlistingrule6.1? Answer this question only if you are an ASX Listing.(ASX Foreign Exempt Listings and ASX Debt Listingsdonothavetoanswerthisquestion). If your response is "No" and the securities have anyunusual terms, you should approach ASX as soon aspossible for confirmation under listing rule 6.1 that thetermsare appropriateand equitable.		N/A
3B.8a	Ordinaryfullyorpartlypaidshares/unitsdetails AnswerthequestionsinthissectionifyouselectedthissecuritytypeinyourresponsetoQuestion3B.2.
	*+Securitycurrency This is the currency in which the face amount of anissue is denominated. It will also typically be thecurrencyinwhichdistributionsaredeclared.	N/A
	*WilltherebeCDIs issuedoverthe +securities?	N/A
	*CDIratio Answer this question if you answered "Yes" to theprevious question. This is the ratio at which CDIs canbe transmuted into the underlying security (e.g. 4:1means 4 CDIs represent 1 underlying securitywhereas 1:4 means 1 CDI represents 4 underlyingsecurities).	N/A
	*Isitapartlypaidclassof+security?	N/A
	*Paidupamount:unpaidamount Answer this question if answered "Yes" to thepreviousquestion. The paid up amount represents the amount ofapplication money and/or calls which have been paidonanysecurityconsidered'partly paid' The unpaid amount represents the unpaid or yet to becalledamountonanysecurityconsidered'partlypaid'. The amounts should be provided per the securitycurrency (e.g. if the security currency is AUD, then thepaidupandunpaid amountpersecurityinAUD).	N/A
	*Isitastapled+security? This is a security class that comprises a number ofordinary shares and/or ordinary units issued byseparate entities that are stapled together for thepurposesoftrading.	N/A
3B.8b	Optiondetails AnswerthequestionsinthissectionifyouselectedthissecuritytypeinyourresponsetoQuestion3B.2.
	*+Securitycurrency This is the currency in which the exercise price ispayable.	N/A
	*Exerciseprice The price at which each option can be exercised andconvert into the underlying security. If there is noexercisepriceplease answeras$0.00. The exercise price should be provided per thesecurity currency (i.e. if the security currency is AUD,theexercisepriceshouldbeexpressedinAUD).	N/A
	*Expirydate Thedateonwhichtheoptionsexpireorterminate.	N/A

	*Detailsofthenumberandtypeof +security(includingitsASXsecuritycodeifthe +security is quoted on or recorded byASX) that will be issued if an option isexercised For example, if the option can be exercised to receiveone fully paid ordinary share with ASX security codeABC, please insert "One fully paid ordinary share(ASX:ABC)".	N/A
3B.8c	Detailsofnon-convertible+debtsecurities,+convertibledebtsecurities,orredeemablepreferenceshares/units Answer the questions in this section if you selected one of these security types in your response to Question3B.2. Refer to Guidance Note 34 and the " Guide to the Naming Conventions and Security Descriptions for ASX Quoted Debt and Hybrid Securities " forfurther informationoncertainterms used inthissection
	*Typeof+security Select oneitemfromthelist	☐ Simplecorporatebond ☐ Non-convertiblenoteorbond ☐ Convertiblenoteorbond ☐ Preferenceshare/unit ☐ Capitalnote ☐ Hybridsecurity ☐ Other
	*+Securitycurrency This is the currency in which the face value of thesecurity is denominated. It will also typically be thecurrencyinwhichinterest ordistributions arepaid.	N/A
	Facevalue Thisistheprincipalamountofeach security. The face value should be provided per the securitycurrency (i.e. if security currency is AUD, then thefacevalueper security inAUD).	N/A
	*Interestratetype	☐ Fixedrate
	Select oneitemfromthelist Select the appropriate interest rate type per the termsof the security. Definitions for each type are providedin the Guide to the Naming Conventions and SecurityDescriptions for ASX Quoted Debt and HybridSecurities	☐ Floatingrate ☐ Indexedrate ☐ Variablerate ☐ Zerocoupon/nointerest
		☐ Other
	Frequencyofcoupon/interestpaymentsperyear Select oneitemfromthelist.	☐ Monthly ☐ Quarterly ☐ Semi-annual
		☐ Annual
		☐ Nocoupon/interestpayments
		☐ Other
	Firstinterestpaymentdate A response is not required if you have selected "Nocoupon/interest payments" in response to thequestion above on the frequency of coupon/interestpayments	N/A
	Interestrateperannum Answerthisquestioniftheinterestratetypeisfixed.	N/A

	*Istheinterestrateperannumestimatedatthis time? Answerthisquestioniftheinterestratetypeisfixed.	N/A
	If the interest rate per annum is estimated,then what is the date for this information tobeannounced tothe market(ifknown) Answer this question if the interest rate type is fixedandyourresponsetothepreviousquestionis "Yes". Answer "Unknown" if the date is not known at thistime.	N/A
	*Doestheinterestrateincludeareferencerate, base rate or market rate (e.g. BBSWorCPI)? Answer this question if the interest rate type is floatingorindexed	N/A
	*Whatisthereferencerate,baserateormarketrate? Answer this question if the interest rate type is floatingorindexedand yourresponse tothepreviousquestionis"Yes".	N/A
	*Doestheinterestrateincludeamarginabove the reference rate, base rate ormarketrate? Answer this question if the interest rate type is floatingorindexed.	N/A
	*What is the margin above the referencerate, base rate or market rate (expressedasapercentper annum) Answer this question if the interest rate type is floatingorindexedandyourresponsetothepreviousquestionis"Yes" .	N/A
	*S128FoftheIncomeTaxAssessmentActstatusapplicableto the +security Select oneitemfromthelist For financial products which are likely to give rise to apayment to which s128F of the Income TaxAssessment Act applies, ASX requests issuers toconfirmthes128Fstatusofthesecurity: · "s128F exempt" means interest payments are nottaxableto non-residents; · "Not s128F exempt" means interest payments aretaxableto non-residents; · "s128F exemption status unknown" means theissueris unableto advisethestatus; · "Not applicable" means s128F is not applicable tothissecurity	☐ s128Fexempt ☐ Nots128F exempt ☐ s128Fexemptionstatusunknown ☐ Notapplicable
	*Isthe+securityperpetual(i.e.nomaturitydate)?	N/A
	*Maturitydate Answerthisquestionifthesecurity is notperpetual	N/A

	*Selectotherfeaturesapplicabletothe +security Up to 4 features can be selected. Further informationis available in the Guide to the Naming Conventionsand Security Descriptions for ASX Quoted Debt andHybridSecurities.	☐ Simple ☐ Subordinated ☐ Secured ☐ Converting ☐ Convertible ☐ Transformable ☐ Exchangeable ☐ Cumulative ☐ Non-Cumulative ☐ Redeemable ☐ Extendable ☐ Reset ☐ Step-Down ☐ Step-Up ☐ Stapled ☐ Noneoftheabove
	*Isthereafirsttriggerdateonwhicharightof conversion, redemption, call or put canbeexercised(whicheverisfirst)?	N/A
	*Ifyes,whatisthefirsttriggerdate Answer this question if your response to the previousquestionis"Yes" .	N/A
	Details of the number and type of +security(includingitsASXsecuritycodeifthe +security is quoted on ASX) that will beissued if the securities to be quoted areconverted,transformedorexchanged Answer this question if the security features include"converting", "convertible", "transformable" or"exchangeable". For example, if the security can be converted into1,000 fully paid ordinary shares with ASX securitycode ABC, please insert "1,000 fully paid ordinaryshares(ASX:ABC)".	N/A

Part 4 - Issue details

QuestionNo.	Question	Answer
4.1	*Havethe+securitiesbeenissuedyet?	Yes
4.1a	*Whatwastheirdateofissue? Answer this question if your response to Q4.1 is"Yes".	14May2021
4.1b	*Whatistheirproposeddateofissue? AnswerthisquestionifyourresponsetoQ4.1is"No".	N/A
4.2	*Arethe+securitiesbeingissuedforacashconsideration? If the securities are being issued for nil cashconsideration,answerthisquestion"No".	No

4.2a	*Inwhatcurrencyisthecashconsiderationbeingpaid For example, if the consideration is being paid inAustralianDollars,stateAUD. Answer this question if your response to Q4.2 is"Yes".	N/A
4.2b	*Whatistheissuepriceper+security Answer this question if your response to Q4.2 is "Yes"and by reference to the issue currency provided inyourresponse toQ4.2a. Note: you cannot enter a nil amount here. If thesecurities are being issued for nil cash consideration,answerQ4.2 as"No" andcomplete Q4.2c.	N/A
4.2c	Pleasedescribetheconsiderationbeingprovidedforthe+securities AnswerthisquestionifyourresponsetoQ4.2is"No".	Optionstoleadmanagerforservicesrelatingtothe LSEPlacement.
4.3	Anyotherinformationtheentitywishestoprovide aboutthe issue	N/A

Part 5 - Unquoted +securities on issue

Followingtheissueofthe+securitiesthesubjectofthisapplication,theunquotedissued+securitiesoftheentity willcomprise: Note: the figures provided in the table in section 5.1 below are used to calculate part of the total market capitalisation of theentity published by ASX from time to time. Please make sure you include in the table each class of unquoted securities issuedbythe entity. Restrictedsecuritiesshouldbeincludedintable5.1.

5.1

*ASXsecuritycodeanddescription  *Totalnumberof+securitiesonissue MXCUnlistedOptions($0.15,30June2021)  10,000,000 MXCUnlistedOptions($0.05,31August2023)  16,300,000 MXCUnlistedOptions($0.06,31August2023)  17,500,000 MXCUnlistedOptions($0.07,31August2023)  17,500,000MXCUnlistedOptions($0.026,31March2023)*  7,692,308MXCUnlistedOptions(£0.01475,31March2023)  26,440,678MXCPerformanceRights(BM/RZ)*  10,000,000 MXC2020IncentivePerformanceRights*  14,550,000 MXC2021AIncentivePerformanceRights*  3,725,000MXC2021BIncentivePerformanceRights*  9,275,000 ConvertibleNotes  3,850,000 *Vestingconditionsattached,notyetmet

Part 6 - Other Listing Rule requirements

The questions in this Part should only be answered if you are an ASX Listing (ASX Foreign Exempt Listings and ASX Debt Listings do not need to complete this Part) and:

-  your response to Q2.1 is "+securities issued under an +employee incentive scheme that are not being immediately quoted on ASX"; or

-  your response to Q2.1 is "Other"

QuestionNo.	Question	Answer
6.1	*Are the securities being issued underListingRule7.2exception13 1   andthereforethe issue does not need any security holderapprovalunderListingRule 7.1? Answer this question if your response to Q2.1 is"securities issued under an employee incentivescheme that are not being immediately quoted onASX".	No
6.2	*Hastheentityobtained,orisitobtaining, +securityholderapprovalfortheissueunderlisting rule7.1? AnswerthisquestioniftheresponsetoQ6.1is "No".	Yes
6.2a	*Dateofmeetingorproposedmeetingtoapprovetheissueunder listingrule7.1 Answer this question if the response to Q6.1 is "No"andthe responseto Q6.2is"Yes".	31March2021
6.2b	*Are any of the +securities being issuedwithout+securityholderapprovalusingtheentity's 15% placement capacity underlistingrule7.1? Answer this question if the response to Q6.1 is "No"andthe responsetoQ6.2 is"No".	No

1  Exception 13  An issue of securities under an employee incentive scheme if within 3 years before the issue date:

(a)  in the case of a scheme established before the entity was listed - a summary of the terms of the scheme and the maximum number of equity securities proposed to be issued under the scheme were set out in the prospectus, PDS or information memorandum lodged with ASX under rule 1.1 condition 3; or

(b)  the holders of the entity's ordinary securities have approved the issue of equity securities under the scheme as an exception to this rule. The notice of meeting must have included:

· a summary of the terms of the scheme.

· the number of securities issued under the scheme since the entity was listed or the date of the last approval under this rule;

· the maximum number of +equity securities proposed to be issued under the scheme following the approval; and

· a voting exclusion statement.

Exception 13 is only available if and to the extent that the number of +equity securities issued under the scheme does not exceed the maximum number set out in the entity's prospectus, PDS or information memorandum (in the case of (a) above) or in the notice of meeting (in the case of (b) above).

Exception 13 ceases to be available if there is a material change to the terms of the scheme from those set out in the entity's prospectus, PDS or information memorandum (in the case of (a) above) or in the notice of meeting (in the case of (b) above).

6.2b.1	*How many +securities are being issuedwithout+securityholderapprovalusingtheentity's 15% placement capacity underlistingrule7.1? Answer this question if the response to Q6.1 is "No",the response to Q6.2 is "No" and the response toQ6.2bis"Yes". Please complete and separately send by email to yourASX listings adviser a work sheet in the form ofAnnexure B to Guidance Note 21 confirming the entityhas the available capacity under listing rule 7.1 to issuethatnumber ofsecurities.	No
6.2c	*Are any of the +securities being issuedwithout+securityholderapprovalusingtheentity's additional 10% placement capacityunder listing rule7.1A(ifapplicable)? Answer this question if the response to Q6.1 is "No"andthe responsetoQ6.2 is"No".	No
6.2c.1	*How many +securities are being issuedwithout+securityholderapprovalusingtheentity's additional 10% placement capacityunderlisting rule7.1A? Answer this question if the response to Q6.1 is "No",the response to Q6.2 is "No" and the response toQ6.2cis "Yes". Please complete and separately send by email to yourASX listings adviser a work sheet in the form ofAnnexure C to Guidance Note 21 confirming the entityhas the available capacity under listing rule 7.1A toissuethatnumberofsecurities.	No

Introduced 01/12/19; amended 31/01/20

 

END

 

 

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