• Provides additional information and clarifications to CZR Shareholders
• Discloses pro forma holding in the Combined Group
• Outlines details on Small Parcel Shareholders
• Clarifies Fenix's intentions for CZR after the Offer Period

Fenix Resources Ltd (ASX: FEX) has released its first supplementary bidder's statement in connection with its off-market takeover offer for CZR Resources Ltd (ASX: CZR). The primary purpose of this supplementary statement is to provide CZR Shareholders with additional information and clarifications to certain details in the original bidder's statement. Key points include:- On successful completion of the offer, assuming Fenix acquires 100% of CZR Shares, CZR Shareholders will own approximately 21.4% of the Combined Group based on the Base Offer Consideration, or 23.8% based on the Increased Offer Consideration.- Based on CZR's share registry, 424 CZR Shareholders would be classified as Small Parcel Shareholders, holding approximately 0.10% of all CZR Shares. These shareholders will have their shares sold by the Nominee with the proceeds returned in cash.- Fenix does not presently intend, but reserves the right, to redeploy any of CZR's fixed assets if it were to acquire a Relevant Interest in at least 50.1% but less than 90% of CZR's Shares, or 90% or more of CZR Shares.- CZR must pay Fenix a break fee of $650,000 in certain circumstances, such as if a Competing Proposal is announced or made by a Third Party.- The Offer Period can be extended at Fenix's election, subject to the Corporations Act, however any extension beyond three months after the date of the Offer first opening can only be done with the prior written consent of CZR.- The document also provides updated details on the replacement Fenix Options to be issued to CZR Option holders following the execution of the Option Cancellation Deeds.