Ann: SFG EGM Notice of Meeting, page-13

Having read the experts report and quizzed the Company on this I remain very lukewarm on the proposal but do not agree with your assessment that it grants 9 million (dollars I presume you mean) for a couple of hundred thousand of cash commitment.

This resolution will allow Ian T to convert another $9.2 million of loans he has made to the company into shares at the same SPP rate of 9c per share - instead of the Company repaying those loans in cash.

We are essentially being asked to grant Ian T options to buy 135 million SFG shares for 9c on or before September 2021 in exchange for extending the term of the loan facility he has provided the Company for a further 6 months (to Sept 2021). Bargain priced options it is true and I am struggling to see why it is necessary. If SFG has not secured the required financing by late 2020 then we are going to be in a whole lot of bother and an extension of 6 months on a $15m facility in 2021 probably isn't going to save the day....