Ann: Acquisition of Brazilian Solar Company and Rights Issue, page-15

Look's like it starting to happen... Will take a position today.

Helio has continued to grow its operations since the Acquisition was announced, with four projects totalling 1.8MW already operating, including a 1MW system, which is the largest private commercial operating system in Brazil under the net metering law.

Four additional projects totalling 2.1MW are under construction, with additional signed contracts totalling 3.8MW, which would bring Helio’s total installed capacity to 7.7MW upon completion.

Helio’s growth pipeline has been bolstered by commitments for up to US$8 million in pre-Acquisition growth capital funding undertaken via a convertible note offer. Helio has received cash injections of growth capital (see Funding below) of US$3 million, and is in the process of finalising other commitments for an additional US$5 million.

Key conditions of the Acquisition have been satisfied, with a meeting of Nickelore shareholders anticipated to take place before 30 June 2016 prior to a proposed A$5 million minimum capital raising.