Results of Rights Issue

23 July 2019

23 July 2019

Company Announcements Office
ASX Limited
20 Bridge Street


Southern Gold Limited (ASX:SAU) is pleased to announce the results of its one (1) for three (3) fully underwritten non-renounceable rights issue, announced to the market on 17 June 2019, which closed on 18 July 2019 (Rights Issue). Unless otherwise stated, capitalised terms in this announcement have the same meaning as the Entitlement Issue Prospectus.

The Company received applications under the Rights Issue for a total of 28,639,444 New Shares, comprising 11,894,794 under shareholder Entitlements and 16,744,650 for Shortfall Shares.

The Directors will apply a scale back for the 7,783,320 oversubscribed Shortfall Offer for New Shares in accordance with allocation policy outlined in the Prospectus. As the Rights Issue was oversubcribed, there will be no shares required to be taken by the Underwriters.

The Company intends to issue the Shortfall Shares, subject to a scale back, on the same date on which it issues and allots the Entitlement applications.

Yours faithfully

Dan Hill

Company Secretary