CADOUX LIMITED — Capital/Financing Update 2009

Jun 23, 2009

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24 June 2009

Dear Shareholder,

On behalf of the Board I am pleased to announce that the Company intends to conduct a fully underwritten, pro-rata, non-renounceable entitlement issue to raise approximately $577,340 before costs. The entitlement issue offer is 1 new share for every 1 share held at an issue price of 0.2 cents each.

Entitlement Issue

The entitlement issue is made under a prospectus lodged with the Australian Securities and Investments Commission (ASIC) and ASX and is available on the ASX website at www.asx.com.au as well as the Company’s website at www.freedomeye.com for inspection. The entitlement issue will be open to existing holders of ordinary fully paid shares in Freedom Eye Limited with registered addresses in Australia and New Zealand.

The directors are of the view that a fully underwritten, pro-rata entitlement issue is the most fair and sensible means of raising capital given the current market conditions.

The funds raised will be used for ongoing costs associated with the Coramsine Cancer Project and for costs associated with isolating and assessing potential new business opportunities and working capital.

Underwriting

The Offer is fully underwritten. Kirke Securities Limited and GKB Global Pty Ltd have each separately agreed to underwrite 50% of the shortfall. Director Russell Barnett is a director of Kirke Securities Limited. Russell Barnett has no equity interest in Kirke Securities Limited. Director Grant Bennett is a director and controlling shareholder of GKB Global Pty Ltd.

Certain existing shareholders and parties associated with Directors of the Company have entered into sub-underwriting arrangements with Kirke Securities Limited. Details of the sub-underwriting arrangements with parties associated with Directors of the Company are set out in Section 7.2 of the Prospectus.

Unit 9, 8 Sarich Way, BENTLEY 6102 Postal: PO Box 1102 EAST VICTORIA PARK WA 6981 Tel: +61 8 9355 0399 Fax: +61 8 9472 0475 Email: info@solbec.com.au Website: www.solbec.com.au

Timetable

Shareholders who are registered as at 5.00 pm WST on 2 July 2009 (the Record Date) will receive a copy of the Prospectus as set out in the timetable below. If you wish to acquire new shares under the entitlement issue, you will need to complete the entitlement and acceptance form that will accompany the Prospectus.

Prospectus lodged with ASIC and ASX and Appendix 3B	23 June 2009
lodged with ASX
Shares trade "ex" the entitlements issue on ASX	26 June 2009
Record Date	2 July 2009
Despatch of Prospectus and Opening Date	8 July 2009
Closing Date	22 July 2009
Despatch of holding statements	30 July 2009

The Company reserves the right to amend this timetable, including, subject to the Corporations Act 2001 and the ASX Listing Rules, to extend the closing date.

If you have any questions in relation to the entitlement issue please do not hesitate to contact the Company on (08) 9355 0399.

Yours faithfully,

Russell Barnett Chairman