Ann: Trading Halt, page-120

Hi again jake,

I see things the same way.

It would appear that GS placed ca. 270 milion EDE shares at 2.6c in order to raise A$7 million. According to the info that we currently have from JPGM, this placement was over subscribed i.e. GS could have placed far more than 270 million shares.

FYI: 270 million shares is 15% of 1.8 billion shares (about the number of shares that EDE currently have on issue). As far as I know, 15% is the maximum amount of EDE shares that GS could have issued/placed under ASX "share issue" regulations.

As I said earlier this week, after last week's two "milestone" announcements (the successful 3 year EdenCrete Denver trial and the A$7.2 million Long State funding facility), EDE are in a much stronger fundamental position and in much better financial shape. With this latest major and highly successful share placement/CR (as long as it is confirmed on Monday), EDE will be in an even stronger overall position going into CY 2021.

Having said all this, I am still somewhat surprised that GS was able to so easily place 270 million EDE shares at 2.6 cents. Particularly given the current economic conditions. I therefore surmise that there may be more to this placement than meets the eye i.e. there is either sales related information out there that we have not yet been told about, or this placement is more of a strategic and long term nature with a strong partner (unlikely, but not out of the question). Therefore, on Monday, we may have more than one announcement. Which is possibly why GS called a TH.

If on the hand, this is just a plain-vanilla placement with an Aussie stockbroker who is just out to make a quick buck, which has often been the case in the past, and which I fear, the EDE SP could come under pressure.

Wishing you and all other EDE & TAS holders a good weekend and good fortune next week.