BIOXYNE LIMITED — M&A Activity 2013

Mar 3, 2013

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----- Start of picture text ----- Suite 1001, 4 Bridge StSydney NSW 2000P: +61 2 9247 0070E: pscomans@bigpond.comW: www.bioxyne.com----- End of picture text -----

Australian Securities Exchange Companies Announcements Office Exchange Centre Level 6 20 Bridge Street Sydney, NSW 2000

4th March 2013

Proposed Acquisition of VITALITY – Update

Bioxyne Limited ( BXN or Company ) announced on 18 February 2013 the proposed acquisition of 100% of the shares and convertible notes in VITALITY Devices Pty Limited ( Proposed Acquisition ). The Company advises that it has received confirmation from ASX that:

• the Company will not be required to re-apply for admission to the Official List of the ASX in accordance with Chapters 1 and 2 of the Corporations Act, as a result of the completion of the Proposed Acquisition;

• completion of the Proposed Acquisition will be conditional upon approval of the ordinary shareholders of the Company, for the purposes of ASX Listing Rule 11.1.2; and

• the BXN shares to be issued to Phillip Asset Management Limited as trustee for IB Australian Bioscience Fund I ( PAM ), under the Proposed Acquisition, as consideration for the transfer to the Company of the convertible notes issued by VITALITY to PAM, will not be the subject of escrow under ASX Listing Rule 9.1.3.

For further information, please contact: Dr Phillip Comans Chief Executive Officer Mobile: + 61 439 466 116

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