ECHOIQ LIMITED — Board/Management Information 2016

Feb 11, 2016

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ASX ANNOUNCEMENT

February 12[th] 2016

ASX: PML

VERILUMA MAKES KEY APPOINTMENT & FORMS EXPERIENCED ADVISORY BOARD TO DRIVE COMMERCIALISATION

Highlights:

• Government Business and Relations Manager appointed in Canberra with responsibility for defence and government contracts

• High profile Advisory Board appointed to accelerate business development and international expansion

• Advisory Board consists of key innovators and business advisors with:

  • a depth of managerial experience

  • knowledge and experience of technology disruption

  • global reach in key segments within growth markets

___________________________________________________________________________________________________________________________

Parmelia Resources Ltd ( ASX: PML ) (“ Parmelia ”) is pleased to advise that Veriluma Pty Ltd (Veriluma or the Company) , an Australian technology company being acquired by Parmelia, has appointed Mr Glen Toscan as Veriluma’s Government Business and Relations Manager. In addition to this appointment Veriluma has assembled a highly credentialed Advisory Board to provide advice to the Veriluma leadership team on strategy, business development and company growth.

Veriluma’s unique patented “Intelfuze” software delivers predictive intelligence capabilities to complex scenarios and decision making processes which helps to mitigate risk. The software was originally developed for the Australian Department of Defence and is now being commercialised across broader applications including; government agencies and industry.

The appointments made by Veriluma have been made with special consideration to the expertise and reach of the Advisory Board members covering technology, global business development and execution, corporate guidance, government agencies, and access to international investment networks.

Veriluma CEO, Elizabeth Whitelock commented, “Along with the appointment of Glen Toscan, a highly experienced Defence and Intelligence Executive who will manage and expand our government business, we are also fortunate to have secured a high calibre Advisory Board. We are confident their experience, advice and support will help provide innovative and effective corporate direction. Their understanding of our key markets will ensure we build strong business partnerships and deliver credible technical solutions.”

Mr Glen Toscan - Government Business and Relations Manager Glen is a former RAAF Group Captain and Defence and Security industry executive who has consulted to the Australian Defence Department since 2008 when he joined the global technology solutions and services firm CSC, based in their Canberra office. As Client Manager, Glen was responsible for Intelligence Agencies, Defence and Air Services. Glen’s experience and government relations network bring considerable weight to Veriluma’s strategy of developing strong partnerships within Australian government departments and agencies. Glen joins us as Government Business and Relations Manager with a focus on managing existing client and partner relationships; extending our software footprint within defence; and building and maintaining a client base across federal agencies.

Advisory Board

Mr Richard Howard

With over 20 years experience in financial services including 16 years with J.P. Morgan in investment banking and fixed income in London, New York, Sydney and Melbourne and more recently as an investor and advisor to numerous emerging financial services companies, Richard brings invaluable international banking, advisory and capital markets experience to Veriluma. Richard is Director of Access 32 Capital a venture capital investment fund.

Mr Mark Carrick

Formerly the Commander of Counter Terrorism Intelligence NSW Police and advisor to the Australian and NZ Governments, Mark is the founding director of Global Business Resilience (GBR) an independent, resilience-building consultancy specializing in building organisational resilience enabling effective strategic decisions on the allocation of resources. Mark has worked across a broad range of industries and achieved outstanding success with large Government and NGO organisations. Mark holds an MBA from the University of Sydney and is a graduate of the Australian Institute of Company Directors.

Mr Andy Hill

Originally a Rolls-Royce Manufacturing Systems Engineer, Andy has spent the past 25 years founding and building Oniqua Intelligent MRO, a global inventory analytics software

business serving many of the world's leading companies in the oil and gas, mining, and utilities industries, including ConocoPhillips, BP, BHP Billiton, Rio Tinto, Newmont Mining, Xstrata, Freeport McMoRan and Nebraska Public Power District with more than $16 billion worth of spare parts inventory under management. Oniqua was acquired by the ASCO Group in 2012. Andy’s experience across the full lifecycle of a business, from start-up to exit, and expertise in analytics technology, Enterprise sales and data management provides Veriluma with invaluable opportunities and perspective.

Mr Tim Molloy

Executive Director at Mainsheet Capital, Tim has seen a career spanning the corporate development of IT companies such as Solution 6, Exonet and MYOB. Tim’s invaluable experience comes from growing IT businesses along with international experience in mergers & acquisitions, marketing & sales, strategy, and profitable revenue generation leading to wealth creation for shareholders. A company director and a Graduate of the Australian Institute of Company Directors, Tim’s strength is in developing IT companies and enhancing growth opportunities.

About Veriluma

Veriluma’s patented predictive intelligence software engine, was initially developed by a Commonwealth Government Research Centre for the Australian Department of Defence, specifically for application in the Defence Intelligence Organisation (DIO). Veriluma was established in 2010 to further develop the software which is now being commercialised across a broad range of industries and government departments.

Veriluma’s Intelfuze software complements Big Data and business intelligence tools. Intelfuze provides solutions to a range of strategic, operational and critical problems and decision–making scenarios. Intelfuze’s unique algorithms and applications provide objective outcomes, which lead to more efficient and effective decision-making helping government and non-government organisations mitigate risk. Opportunities to utilise the software exist globally across a wide range of industries including banking and financial services, insurance, legal, government agencies and others. Initial target areas and associated revenues streams have been scoped. In these, and many more, scenarios, Intelfuze is immediately beneficial in helping people make better, more informed decisions.

Business highlights include:

• Developed by a Commonwealth Government Research Centre for the Defence Intelligence Organisation

• Unique, sophisticated patented technology

• Software applied to a range of problems/decisions with consistently accurate results

• Potential for global applications across industry and government

• Versatile commercialisation pathways – tailored solutions, recurring revenue streams

• Immediate target markets identified

• Commercialisation strategy currently being implemented

• Experienced board and management, advisory board and operations team

For further information concerning this announcement, please contact :

Mr Nigel Gellard, Executive Chairman Parmelia Resources Ltd Phone +61 (0)8 6141 3500 Fax +61 (0)8 6141 3599

or

Elizabeth Whitelock CEO, Veriluma Ltd Elizabeth.Whitlock@veriluma.com.au M: +61411 544711 www.veriluma.com.au

or

Mr Peter Taylor Investor Relations peter@nwrcommunications.com.au M: +61 (0)412 036 231