EDEN INNOVATIONS LTD — Capital/Financing Update 2019

Jan 30, 2019

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ACN 009 253 187

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

31 JANUARY 2019

EDEN INNOVATIONS LTD - CAPITAL RAISING

Please see attached an ASX Announcement by Eden Innovations Ltd (ASX: EDE) for further details.

Background

Tasman through its wholly owned subsidiary, Noble Energy Pty Ltd, holds 594,555,077 fully paid shares in Eden representing 39.08% of the total issued capital of Eden.

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Aaron Gates Company Secretary

Level 15, 197 St George’s Terrace, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866 Email: mailroom@tasmanresources.com.au

ACN 109 200 900

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

31 JANUARY 2019

EDEN CAPITAL RAISING TO RAISE UP TO A$9.8 MILLION

Eden Innovations Ltd (“Eden” or “the Company”) (ASX: EDE) is pleased to announce that the Company has agreed to make a placement to institutional and sophisticated investors of up to approximately $1,500,000 and to undertake a Rights Issue to raise up to approximately $8,365,555 before costs.

Placement

The Placement will raise up to approximately $1,500,000 through the issue of up to approximately 27,777,778 Placement Shares at an issue price of 5.4 cents ($0.054) per Placement Share, with one (1) free attaching Placement Option exercisable at 8 cents ($0.08) on or before two years after the issue, for every two (2) Placement Shares subscribed.

The Placement Shares and Placement Options will be issued utilising the Company’s placement capacity pursuant to ASX Listing Rules 7.1. The Placement Shares are expected to be issued on 6 February 2019 and the Placement Options expected to be issued on 11 March 2019.

EAS Advisors, LLC, acting through Odeon Capital Group LLC acted as the placement agent for the Company in the United States.

Rights Issue

Following completion of the Placement, the Company intends undertake a pro rata renounceable rights issue to eligible participants to raise up to $8,365,555 (before the costs of the offer), comprising an offer on the basis of one (1) Rights Share for every ten (10) existing Shares held at an issue price of 5.4 cents ($0.054) per Rights Share, together with one (1) free attaching Rights Option exercisable at 8 cents ($0.08) on or before two years after the issue, for every two (2) Rights Shares subscribed. Shareholders will be afforded the opportunity to subscribe for shares in excess of their entitlement if there is a shortfall.

The Rights Issue is intended to be underwritten, to $5 million, by Patersons Securities Limited, who are also acting as the Lead Manager to the Rights Issue. Eden’s largest shareholder, Noble Energy Pty Ltd (“Noble”) (a 100% subsidiary of Tasman Resources Ltd) intends to participate as a sub-underwriter for $1.6 million and interests associated with the directors intend to participate as sub-underwriters for $0.4m. Noble and interests associated with the directors will not receive any sub-underwriting fees.

The funds raised will be used for general working capital and sales & marketing.

Eden Innovations Ltd | Telephone +61 8 9282 5889 Level 15, 197 St George’s Terrace, Perth, Western Australia 6000, Australia | edeninnovations.com

Further details will be provided in a prospectus which is intended to be lodged with the ASX on 12 February 2019.

Indicative Timetable

The current proposed timetable for the Rights Issue is set out below. The dates are indicative only and Eden reserves the right to vary the dates (subject to the Corporations Act and the ASX Listing Rules).

Offer announcement 31 January 2019 Lodgement of Prospectus at ASIC 11 February 2019 Lodgement of Prospectus and Appendix 3B with ASX 12 February 2019 Notice sent to shareholders 13 February 2019 Ex date; Rights Trading commences 14 February 2019 Record Date for determining entitlements 15 February 2019 Prospectus despatched to Qualifying Shareholders 18 February 2019 Rights Trading Ends 25 February 2019 Closing date of the Offer 4 March 2019 Company notifies ASX of under subscriptions 7 March 2019 Issue Date (and end of any deferred settlement trading) 11 March 2019

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Gregory H. Solomon Executive Chairman

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