EDEN INNOVATIONS LTD — Capital/Financing Update 2020

Dec 7, 2020

ACN 109 200 900

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

8 December 2020

EDEN PLACEMENT RAISING A$4.5 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 to raise approximately A$4.5million (before the costs of the issue), through the issue of approximately 173,076,923 Placement Shares at an issue price of 2.6 cents ($0.026) per Placement Share, with one (1) free attaching Placement Option exercisable at 5 cents ($0.05) on or before two years after the issue, for every four (4) Placement Shares subscribed.

The Placement Shares and Placement Options are anticipated to be issued on 11 December 2020, under the Directors’ 15% placement capacity.

The placement was conducted by Eden’s New York based advisor, EAS Advisors, LLC, acting through Odeon Capital Group LLC and Australian based Oracle Capital Group Pty Ltd (AFSL: 521887). A placement fee of 6% of the value of the funds raised will be paid in cash, plus 1.5% of the value of funds raised will be satisfied by the issue of Placement Options (totalling 1,350,000 Placement Options).

Funds raised by the placement will be used to accelerate sales and marketing of the Company’s Edencrete and Optiblend products and for general working capital purposes.

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Gregory H. Solomon Executive Chairman

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