FIRST LITHIUM LIMITED — Capital/Financing Update 2018

Sep 20, 2018

ACN: 009 081 770

==> picture [180 x 37] intentionally omitted <==

LIMITED

ENGINE COMPO

ASX ANNOUNCEMENT

21 September 2018

COMPANY UPDATE

Highlights

• AKELA secures allocation for International Cobalt Resources Limited Initial Public Offering (currently open)

• AKELA secures allocation for Shaw River Manganese Limited Initial Public Offering (currently open)

• AKELA closes oversubscribed offer for Identitii Limited Initial Public Offering

• AKELA closes oversubscribed offer for QEM Limited Initial Public Offering

• Controlled Placement Facility executed with Acuity Capital

Ookami Limited (ASX:OOK) ( OOK or the Company ) is pleased to provide the following update on the Company’s recent activities.

Ookami Limited (ASX: OOK) (OOK or the Company) is pleased to announce that its wholly owned Akela (Software as a Service “SaaS”) Platform continues to generate revenue and secure quality offerings for its retail and sophisticated (s708) investors. During the month, Akela has successfully closed oversubscribed offers for both Identitii Limited and QEM Limited’s Initial Public Offerings (IPO), as well as secured allocations in the Initial Public Offerings (IPO or Offer) for both International Cobalt Resources Limited (“ICR”) and Shaw River Manganese Limited (to be renamed Rolek Resources Limited) (“Rolek”).

International Cobalt Resources Limited

ICR, a is Canadian Cobalt Exploration company diversified across 3 different cobalt mineralisation regions of Canada, demonstrating very high-grade historic results including old mine shafts never exposed to modern technology and mining techniques. ICR has a local exploration and geological team with extensive Nickel/Copper/Cobalt/Gold experience as well as favourable nearby custom milling options, and proximity to operating mines and infrastructure. ICR has an experienced Board and Management team who have taken exploration projects in Canada into mine production.

ICR Highlights

• Low enterprise value of $5m well priced structure @ $10m market cap with ~$5m cash.

• Very lean and tightly run small company with a singular focus on developing its 3 main CobaltGold-Nickel projects in Canada.

• Previous high-grade Gold-Copper-Cobalt and Nickel-Copper-Cobalt results

• A number of high-grade open mine shafts ready to diamond core drill

• Availability to immediate custom milling options

• Nearby Mine operations and excellent mining infrastructure

Sequoia are Lead Managers to the IPO.

Further information on ICR can be found at the Company’s website www.intercobalt.com

ACN: 009 081 770

==> picture [180 x 37] intentionally omitted <==

LIMITED

Rolek Resources Limited

Rolek is acquiring an interest in 6 granted mineral exploration licences and 2 pending applications for exploration licenses throughout the Kimberley, Pilbara, Gascoyne and Murchison regions of Western Australia which are prospective for, among other commodities, manganese, nickel, lithium and cobalt.

Rolek Highlights

• Barramine Manganese Project database includes> $7.2m spent on exploration, 27,000m drilling, geophysics metallurgical studies

• Limited number of ASX companies with manganese and near-term production capability

• Exploration projects include lithium/tantalum, nickel and cobalt

• Experienced management team

• Strong demand for Manganese and new end uses in solar/EVs and batteries.

• Staged earn-in to an advanced manganese project in a world class manganese province.

• Initial JORC resources achievable without further drilling.

Rolek’s Barramine Manganese Project

• Located in the world class Woodie Woodie Pilbara Manganese province.

• $7.2M spent on exploration with >27,000m of drilling; geophysics, magnetics, electromagnetics and induced polarisation.

• Strong demand and new end uses in solar/EVs and batteries.

• Staged earn-in to an advanced manganese project in a world class manganese province.

• Target strike length ~2,500m with deposits known at each end.

Rolek’s Exploration Projects

• Lithium/Tantalum, nickel and cobalt

• Five project areas in the Kimberley, Pilbara, Gascoyne and Murchison areas of Western Australia.

• The project areas are prospective for strategic and base metals including beryllium, lithium, tantalum, nickel and cobalt.

• Rolek will systematically assess the potential for commercially viable deposits of strategic and base metals with specific focus on lithium, tantalum, nickel and cobalt.

Further information on Rolek can be found at the Company’s website www.rolek.com.au

Akela has secured limited allocations for its clients for both the ICR and Rolek Offers. The offers are open to existing Akela verified retail and sophisticated investors, or those who qualify and verify prior to the close of the Offers.

Akela will receive a cash payment for SaaS and marketing services rendered.

Investors can register on the platform and gain access to current and future offerings at www.akela.vc

Corporate Update

==> picture [180 x 37] intentionally omitted <==

LIMITED

ACN: 009 081 770

The Company has entered into a Controlled Placement Agreement (CPA) with Acuity Capital. The CPA provides the Company with up to $2 million of standby equity capital over the coming 28-month period. Importantly, the Company retains full control of all aspects the placement process, including having sole discretion as to whether or not to utilise the CPA, the quantum of issued shares, the minimum issue price of shares and the timing of each placement tranche (if any). There are no requirements on the Company to utilise the CPA and the Company may terminate the CPA at any time, without cost or penalty. Acuity Capital and the CPA do not place any restrictions at any time on the Company securing debt or raising capital through other methods. If the Company does decide to utilise the CPA, the Company is able to set a floor price (at its sole discretion) and the final issue price will be calculated as the greater of that floor price set by the Company and a 10% discount to a Value Weighted Average Price (VWAP) over a period of the Company's choosing (again at the sole discretion of the Company). As collateral for the CPA, the Company has agreed to place 16,000,000 shares from its Listing Rule 7.1 capacity, at nil consideration to Acuity Capital (Collateral Shares) but may, at any time, cancel the CPA and buy back the Collateral Shares for no consideration (subject to shareholder approval). An Appendix 3B and further details in relation to the CPA will follow shortly.

Outlook

Ookami’s business model is to develop an ecosystem of advanced technology solutions encompassing ‘smart contracts’ and blockchain technologies, secure identity management and verification (‘Know Your Client’) (KYC) and anti-money laundering (AML) applications, data markets, advertising analytics, digital asset wallets and exchange platforms, digital asset solutions and security and encryption applications.

As per the Company’s diversified investment and acquisition growth strategy outlined in its listing prospectus released on ASX in November 2015, the Directors of Ookami continue to consider technologies and solutions deemed complementary to the Ookami ecosystem, and are continuing to explore such opportunities brought about via their deep industry connections and are currently evaluating a number of additional complementary business acquisitions that may have the potential to create additional shareholder value. The Board is currently considering various opportunities deemed strategic to the technological and commercial partnerships in place with Brontech and NCX. The Company cautions that its evaluation of potential acquisition opportunities remains incomplete and confidential and there can be no certainty that any agreement or agreements can be reached or that any transaction will eventuate. No binding commercial terms have been agreed with any prospective party. The Company will provide updates in accordance with its continuous disclosure obligations.

-Ends-

==> picture [337 x 234] intentionally omitted <==

ACN: 009 081 770

==> picture [180 x 37] intentionally omitted <==

LIMITED

For further information, please contact:

Corporate Advisors Otsana Capital 108 Outram Street West Perth WA 6005 Telephone: +61 8 9486 7244 www.otsana.com

About Ookami Limited

Ookami has a portfolio of synergistic companies that disrupt data and advertising markets, investment platforms, software as a service (SaaS) and digital asset applications.

Ookami is developing an ecosystem of advanced technology solutions encompassing ‘smart contracts’ and blockchain technologies, secure identity management and verification (‘Know Your Client’) (KYC) and anti-money laundering (AML) applications, data markets, advertising analytics, digital asset wallets and exchange platforms, digital asset solutions and security and encryption applications.

About Akela

Akela’s proprietary financial services software and transaction management platform provides Australian Financial Services Licence (AFSL) holders a streamlined total management solution to capital raisings and distribution of public and private offerings. Akela is a unique ‘Service Platform’ with Peer-to-Peer (P2P) community, Business-to-Business (B2B), KYC) and compliance and data collection & analytics capabilities.

Individuals and entities can continue to register on the platform and gain access to current and future offerings at www.akela.vc

About Akela Mobile App

iOS and Android users have access to the Akela Platform mobile app via the App Store and Google Play. The app will be initially free for all users, but will require a membership with the Akela Platform to use. Once logged into the app, investors will be linked with their account. Your investment progress will be linked across any device that you log in from. The mobile app is another tool that the Akela Platform provides to give you the best investment experience on the web.

==> picture [86 x 28] intentionally omitted <==

==> picture [84 x 27] intentionally omitted <==

==> picture [180 x 37] intentionally omitted <==

==> picture [156 x 6] intentionally omitted <==

----- Start of picture text -----

LIMITED
----- End of picture text -----

==> picture [80 x 5] intentionally omitted <==

----- Start of picture text -----

ACN: 009 081 770
----- End of picture text -----

About Brontech

Brontech is Sydney based company that is pioneering a blockchain backed platform for data exchange and identity management. The company is also building complementary proprietary applications to extract data from various sources and pack them into anonymized data products that are sold to corporations and SMEs as insights and research tools. In its diverse data product offering is also included the MyBron API that enables individuals and companies to exchange verified information in a Peer-to-Peer manner where the data is verified through the company’s proprietary identity verification protocol that pulls data from diverse set of sources.

Individuals and entities can find more information on Brontech’s products at www.bron.tech

Download bronID

bronID can be downloaded via the following App stores:

https://bronid.com/

https://itunes.apple.com/au/app/bronid/id1406109476

https://play.google.com/store/apps/details?id=tech.bron.bronid

National Currency eXchange (NCX)

NCX's vision is to be the worlds trusted digital asset exchange addressing many of the problems and risks evident in existing digital asset exchanges. NCX aims to promote a trusted, secure and robust digital asset exchange solution following “bank-like” checks and processes, adhering to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, including verification of customer ID prior to trading, whilst also providing exceptional customer service and user experience.

NCX's expertise lies in its ability to rapidly and securely utilise cutting edge technology development and infrastructure to greatly improve the current digital asset currency technology platform to add new features, rollout rapidly in multiple countries and maintain a secure and scalable operation.

NCX aims to operate a series of locally based crypto-currency exchange solutions in various jurisdictions commencing with Australia, Singapore and Hong Kong. Following the successful initial launch, NCX is poised to continue its global roll-out of locally based crypto-currency exchange solutions in Malaysia, Croatia and elsewhere.