Renounceable Entitlement Offer to Raise $60m

• Partially underwritten 1.25 for 1 (equivalent to 5 for 4) renounceable Entitlement Offer of New Shares to raise gross proceeds of up to approximately A$60 million to strengthen the balance sheet. • Proceeds to be used to pay down existing regulatory, statutory and operational creditors, strengthen the balance sheet and for working capital purposes. • Managing Director Danny McCarthy and Non-Exec