The Company seeks to raise up toapproximately A$6.3 million...

The Company seeks to raise up toapproximately A$6.3 million consisting of an:

· Institutionalplacement to raise approximately A$1.5 million (and up to A$2.0 million)comprising the issue of approximately 136.4 million (and up to 181.8 million) newfully paid ordinary shares in the Company (“New Shares”) at A$0.011 perNew Share (“Placement”).

· ThePlacement will be completed in a single tranche utilising the Company’savailable placement capacity pursuant to ASX Listing Rules 7.1 and 7.1A.

· TheBoard of Directors intend to participate in the Placement for A$150,000 (“Directors’Participation”), subject to shareholder approval, which is to be sought atan upcoming Extraordinary General Meeting (“EGM”), expected to be heldin June 2024.

· Inaddition to the Placement, the Company intends to undertake a 1-for-9non-underwritten, non-accelerated non-renounceable pro rata entitlement offer,at the same price as the Placement, to raise up to A$4.3 million (“EntitlementOffer”), together with the Placement (the “Offer”). Further detailsrelating to the Entitlement Offer will be provided in due course.