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In addition the company will issue 100 million shares which will be offset against the share issue on conversion of the final Bonds and consideration including a non-refundable commencement fee of 6% of the Facility is payable calculated based on the 5 trading day volume weighted average price, being $0.004, which will be satisfied by the issue of 21,000,000 shares together with the issue of
100 million unlisted options exercisable at $0.01 each within 3 years of issue.

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