ADAVALE RESOURCES LIMITED — Capital/Financing Update 2020

Mar 22, 2020

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ASX Announcement

23 March 2020

The Manager Company Announcements Office ASX Limited (“ASX”) 20 Bridge Street Sydney, NSW 2000

Section 708A Notice

Adavale Resources Limited [ACN 008 719 015] (the “ Company ” ) advises that it has issued 12,000,000 fully paid ordinary shares ( Shares ) in the Placement announced 13 March 2020

The shares issued are part of a class of securities quoted on the ASX Limited. The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Company advises that:

• (a) The shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act and without a Product Disclosure Statement for the Offer Securities being prepared:

• (b) This notice is being given under section 708A(5)(e) of the Corporations Act:

• (c) As at the date of this notice the Company has complied with:

  • (i) The provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) Section 674 of the Corporations Act as it applies to the Company; and

• (d) As at the date of this notice, there is no excluded information of the type referred to in subsections 708A(7) and 708A(8) of the Corporations Act.

Authorised for and on behalf of the Company by,

Jurgen Behrens Company Secretary