Ann: March 2016 Quarterly Report-PIL.AX, page-3

Appendix 4C – Quarterly Cash flow Report PERTH, AUSTRALIA, 29 April 2016:

Peppermint Innovation Ltd (ASXIL) an Australian mobile banking, payments and remittance technology platform focused on providing vital access to banking services for millions of people not currently linked to traditional banks, today releases its Appendix 4C – Quarterly Cash flow report for the period ended 31 March 2016.

Key highlights and updates 1. Commercial launch:
The commercial launch of the MyWeps mobile payments and remittances application, which is to be promoted via direct marketing by leading multi-level marketing company 1Bro Global Inc. who have a large agent and business center network across the Philippines, was announced on the 4th of April 2016.

MyWeps is the first application of its kind to be launched specifically for multi-level marketing and allows established agent networks to launch their own mobile-based micro business simply from a smart phone.

2.Preparing for future growth: The appointment of experienced company Chief Financial Officer Michael van Uffelen who, with experience in the Philippines, is building the accounting procedures and protocols required to manage the financial monitoring and reporting in the Philippines and Australia as the business develops.

Along with experienced programmer Matt Cahill - now managing and working closely with the technical team on the development of the platform – Peppermint is putting in place important building blocks to cope with the expansion of the use of its platform.

3. International expansion: Signing a Memorandum of Understanding with an emerging Bangladesh payments platform, 24Nme, opening up the possibility of international expansion. Peppermint Innovation CEO,

Mr. Chris Kain, said: “On behalf of the Peppermint Innovation Board, I am pleased to report on the Company’s progress for the first quarter of the calendar year.” “During the period, we completed the phase 1 commercial launch of the MyWeps application in the Philippines and signaled our intention to broaden our international scope with the signing of an MOU with emerging Bangladesh payments platform, 24Nme.


Whilst we undertake a thorough due diligence process, assessing commercial and technical aspects of 24Nme’s business, our focus remains on adding shareholder value by continuing to strengthen operations in our primary market, the Philippines.

There we are working hard to establish and commercialize the MyWeps application with the 1Bro Global agent network, who we will be training to directly market the app to their individual customer bases.
We look forward to reporting on the traction achieved by MyWeps, and are excited by the opportunities to apply this app with other agent networks, co-operatives and similar organizations after proving the app commercially robust across the 1Bro Global network. ”