Ann: NowForce Partnership and Capital Raising, page-36

The major issue is CR at a low share price 0.8c will dilute existing shares to water !. Share price is expected to stagnate for a long time. Shame, the business collaboration news is good but the CR is badly done !

The capital raising will comprise:

1. A Placement to sophisticated investors of a maximum of 121,155,925 ordinary shares at a price of $0.008 per share to raise $969,247. For every 7 ordinary shares subscribed, 2 free attaching options will also be issued with a strike price of $0.02 per option and an expiry date of 30 November 2019 (a total of 34,615,978) options; and

2. A partially under-written non-renounceable rights issue on a 2 for 5 basis raising a maximum of $2,171,114 through the issue of a maximum of 271,389,270 shares (and 77,539,791 free attaching options) with an identical structure and pricing as the placement referred to above. Underwriting is to the extent of $1m, with the Prospectus for this rights issue anticipated to be lodged with ASIC on 29 November 2017.