**** Bergen Agreement **** The Company has entered into a Share Purchase and Convertible Security Agreement with
Bergen Global Opportunity Fund, LP (the “Investor”), a New York based institutional investor (the “Agreement”), under which the Investor has agreed to invest a minimum of US$3 million (approximately A$3.3 million or £1.8 million) and up to US$8.5 million (approximately A$9.4 million or £5.1 million) in the Company.
1
The Investor will invest a minimum of US$200,000 (approximately A$221,000 or £121,000) per monthly investment tranche for a period of up to twelve months, in return for the issue of the Company’s shares. The Company and the Investor may increase the amount of each monthly tranche to up to US$700,000 (approximately A$775,000 or £423,500) by mutual consent.
2
Appendix 3B
Shares
Price
US
Australian
Appendix 3B
3
Dollars
Dollars
4
Mar
24/03/2014
9,800,000
$0.00
$0.00
Nil Consideration
5
Apr
13,406,250
6
May
28/05/2014
21,677,900
$200,000.00
7
June
27/06/2014
29,153,091
$300,000.00
$320,684.00
8
July
30/07/2014
21,290,200
$200,000.00
$212,902.00
9
Aug
10
Sep
10/09/2014
20,165,667
$168,315.00
$181,491.00
11
Oct
17/10/2014
33,022,857
$200,000.00
$231,160.00
12
Nov
20/11/2014
21,442,500
$111,261.00
$128,655.00
13
Dec
14
Jan
14/01/2015
25,600,600
0.005
$102,825.00
$128,003.00
15
Feb
16
Totals
$1,282,401.00
$1,202,895.00
CFU Price at posting:
0.6¢ Sentiment: None Disclosure: Held