ADVANCE ZINCTEK LIMITED — Capital/Financing Update 2021

Jun 29, 2021

30 June 2021

Rights Issue Update

Advance Nanotek Ltd (‘ANO’ or the ‘Company’) advises that the recent nonrenounceable entitlement offer announced on 15 May 2021 to raise up to $4,727,054 (before costs) on the basis of 1 new fully paid ordinary share for every 50 shares held, at an issue price of $3.94 (‘Offer’) closed on June 28, 2021. As per the Rights Issue Booklet, the Entitlement Offer is fully underwritten.

The Company advises that pursuant to the Entitlement Offer, the Company has received applications from eligible shareholders for 609,255 New Shares, raising $2,400,464.70 and representing a 50.8% take up. The resulting shortfall from the Entitlement Offer is 591,083 shares (Shortfall Shares).

In accordance with the terms of the underwriting agreement, the Shortfall Shares will be taken up in full by the Underwriter.

The new shares are expected to be issued on July 2, 2021.

The Directors are very pleased with the level of acceptances and wish to thank all shareholders for their ongoing support of the Company.

Geoff Acton (B.Com CA)

Managing Director