Iron Bear Resources Ltd (ASX:IBR) has applied for quotation of 330,000 fully paid ordinary shares issued on 12 November 2026 as non-cash consideration to legal services firm Pallaras Legal Pty Ltd under the terms of an Engagement Agreement, according to an Appendix 2A filing lodged with the ASX.

Key Points

  • 330,000 fully paid ordinary shares issued on 12 November 2026 to Pallaras Legal Pty Ltd as non-cash consideration for services rendered
  • Consideration estimated at $0.058 per security in Australian dollars
  • Shares issued using the company's 15% placement capacity under ASX Listing Rule 7.1 without security holder approval
  • Following quotation, total quoted ordinary shares on issue will be 1,106,583,248

Share Issuance to Pallaras Legal Pty Ltd

Iron Bear Resources disclosed that 330,000 ordinary fully paid shares were issued on 12 November 2026 in satisfaction of non-cash consideration payable pursuant to the terms of an Engagement Agreement with Pallaras Legal Pty Ltd. The filing states the purpose of the issuance was to pay for services rendered. The shares were not issued for cash consideration. The company confirmed the securities were not offered under a disclosure document or product disclosure statement. On-sale compliance within 12 months of the issue date will be managed through the publication of a cleansing notice.

Valuation and Listing Rule Compliance

The filing disclosed an estimated consideration value of $0.058 per security in Australian dollars. The 330,000 shares are being issued without security holder approval, utilising the company's 15% placement capacity under ASX Listing Rule 7.1. The company confirmed security holder approval under Listing Rule 7.1 was not obtained and that none of the securities were issued using the additional 10% placement capacity available under Listing Rule 7.1A. The newly issued shares are stated to rank equally in all respects from their issue date with existing issued securities in the same class.

Issued Capital Following Quotation

Following the quotation of the 330,000 shares, Iron Bear Resources' total quoted ordinary fully paid shares on issue will stand at 1,106,583,248, with quoted options expiring 30 November 2028 totalling 370,347,888. The company's unquoted securities include options expiring 19 January 2027 at an exercise price of $0.04 (4,500,000), options expiring 5 December 2026 at $0.20 (10,500,000), options expiring 30 January 2028 at $0.072 (2,000,000), and 29,500,000 performance rights.