Firm commitments received to raise $3.5 million

The Placement will be conducted via a single tranche placement at A$0.08 per share with one (1) free attaching unlisted option for every two (2) Placement Shares issued (“Attaching Options”). The Attaching Options will be exercisable at A$0.12 and expire two years from the date of issue. Under the Placement, the Company will issue approximately 43.75 million new fully paid ordinary shares and 21.8