Celsius Resources Limited — M&A Activity 2015

Dec 20, 2015

VARIATION TO BINDING HEADS OF AGREEMENT WITH FAVOURIT GLOBAL

Celsius Coal Limited ( Celsius or Company ) wishes to advise that the binding heads of agreement with the shareholders of Favourit Global Pty Ltd ( Favourit ), an online sports betting platform, to acquire 100% of the equity in Favourit ( Transaction ) has now been varied. The material changes are as follows:

• (a) the last date on which the conditions precedent must be satisfied pursuant to the Transaction has been amended to 15 March 2016 (originally 20 December 2015); and

• (b) the total consideration shares to be issued to Favourit’s shareholders has been amended to 60,600,000 shares (originally 57,000,000). This new figure takes into account an interim capital raising of approximately $600,000 recently undertaken by Favourit.

The Company wishes to advise that the proposed Transaction timetable has been amended to the following indicative dates:

Event	Date
Lodgement of Prospectus with the ASIC	28thJanuary 2016
General Meeting held to approve the Transaction	28thJanuary 2016
Opening Date of Capital Raising	1stFebruary 2016
Closing Date of the Capital Raising	25thFebruary 2016
Settlement of the Acquisition of Favourit	29thFebruary 2016
Despatch of holding statements	1stMarch 2016
Re-compliance with Chapters 1 and 2 of the ASX Listing Rules	7thMarch 2016
Re-quotation of Shares (including Shares issued under the Capital Raising) on ASX	8thMarch 2016

Ends -

Enquiries

For more information, please visit www.celsiuscoal.com.au or contact Mr Ranko Matic, Company Secretary on +61 (08) 9226 4500.