Ann: Wavefront Investment Update, page-7

 Revised investment strategy – Nemex to secure 51% interest in Wavefront, allowing Nemex to explore additional global biometric opportunities simultaneously given the rapidly expanding nature of the market opportunity.
 Capital raising plans – Cicero mandated to manage a priority placement to shareholders of A$5 million.  Wavefront investing in further miniaturisation and software development during 1H 2016 to accelerate commercialisation. Ongoing dialogue with customers and partners globally.
 Nemex to appoint new management team – appointment of an experienced team to assist Wavefront in developing and commercialising its biometric technology whilst also exploring wider market opportunities at a group level. Nemex Resources Limited (ASX: NXR) (Nemex or Company) provides the following update with respect to its investment in Wavefront Biometric Technologies Pty Ltd (Wavefront). Revised Investment Strategy In June 2015, Nemex entered into an agreement under which it had a conditional right to acquire 100% of the issued capital in Wavefront that it did not already own (Acquisition). As a result of delays in completion of the Acquisition the conditions precedent to settlement have become incapable of being satisfied within the period required under the Acquisition agreement (being 31 October 2015). As a result, the Acquisition agreement will automatically terminate on 31 October 2015