GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2022

Dec 7, 2022

ASX ANNOUNCEMENT 8 DECEMBER 2022

Suvo raises $2M via Placement

HIGHLIGHTS

• Firm commitments for A$2 million received under a Placement to new and existing sophisticated investors at $0.04 per share

• Funding allows the Company to advance studies and development opportunities relating its green initiatives whilst also providing additional working capital

• Additionally, funding will enable the Company to perform studies and test work on the bulk samples from drilling recently completed on the cleared private land at Eneabba

• Pittong upgrade and optimisation on track utilising existing funds and remains due for completion in Q1 CY23

Suvo Strategic Minerals Limited (ASX: SUV) (“Suvo” or “the Company”) is pleased to announce that firm commitments have been received totalling A$2 million before costs via a share placement at $0.04 per share (the ‘Placement’).

Executive Chairman Henk Ludik commented:

“Management remains absolutely committed to our operating kaolin mine at Pittong, with the upgrade and optimisation review remaining on track to more than double production early next year. Additionally, we continue our unwavering pursuit for the development of new premium products such as metakaolin and green cement, including our Silica sands asset at Eneabba. Thank you to our loyal shareholders for your continued support. We look forward to the new year and what’s to come”.

Participants in the Placement will also receive a 1 for 4 free attaching unquoted option (‘New Options’), exercisable at $0.10, expiring 6 December 2025. In accordance with the terms of the Placement, if the New Options are exercised on or before 6 December 2023, the exercise price will be $0.050, representing a 50% discount to the $0.10 exercise price. If the New Options are exercised on or before 6 December 2024, the exercise price will be $0.075, representing a 25% discount to the $0.10 exercise price.

==> picture [561 x 89] intentionally omitted <==

Amounts raised will enable the Company to advance studies relating to the development of supporting infrastructure, which will enable the potential development of a range of new premium products such as metakaolin.

Studies and test work will also commence on the bulk samples from the recent drilling campaign on the cleared private land at Eneabba. This test work will allow the Company to refine its understanding of this world class asset.

Finally, the successful Placement provides additional working capital and ensures that ongoing value is created across Suvo’s wider portfolio, as the Pittong Plant Upgrade and Optimisation nears completion.

The Pittong ‘Plant Upgrade and Optimisation’ is on schedule for completion in Q1 CY23 and remains the Company’s priority. With the recently announced executive appointments in Mr van der Merwe as Chief Operating Officer and Mr Anthony as Marketing and Logistics Manager, the Company is well placed to more than double production.

The Company will issue 50,000,000 fully paid ordinary shares to new and existing sophisticated investors participating in the Placement, including 12,500,000 unquoted options exercisable at $0.10 and expiring 6 December 2025, raising a total of A$2 million before costs. As noted, a discount on the New Options of up to 50% is available dependent on the exercise date.

The issue price of $0.04 per share represents a discount of 14.9% to the Company’s 15-day volume weighted average price (VWAP) of $0.047 and a 13.0% discount to the last close price of $0.046.

The issue of 50,000,000 Placement shares will be completed utilising the Company’s Listing Rule 7.1A placement capacity.

Additionally, the New Options issued under the Placement will be issued using the Company’s Listing Rule 7.1 placement capacity (12,500,000 Options), plus broker options (1,000,000 Options) to the lead manager, Far East Capital under the same terms as the New Options issued to participants under the Placement. Far East Capital will receive fees of 6% of the gross proceeds under the Placement.

Settlement is proposed for Tuesday 13 December, with the allotment of Shares and New Options the following day, Wednesday 14 December.

-ENDS-

Approved for release by the Board of Directors

For further information, please contact

==> picture [561 x 89] intentionally omitted <==

Investor enquiries Media enquiries Henk Ludik Josh Lewis Executive Chairman Spoke Corporate P. +61 8 9389 4495 M. +61 412 577 266 E: henk.ludik@suvo.com.au E: lewisj@spokecorporate.com

Company Profile

Suvo Strategic Minerals Limited is an Australian hydrous kaolin producer and exploration company listed on the Australian Securities Exchange (ASX:SUV). Suvo is focused on production at, and expansion of, their 100% owned Pittong hydrous kaolin operation located 40km west of Ballarat in Victoria. Suvo’s exploration focus is on near-term kaolin and high purity silica assets with 100% owned Gabbin (kaolin), Eneabba and (subject to settlement) Muchea (silica sands) projects located in Western Australia.

Pittong Operations

The 100% owned Pittong Operations, located in Victoria 40km west of Ballarat, is the sole wet kaolin mine and processing plant in Australia and has been in operation since 1972. Pittong comprises the Pittong, Trawalla and Lal Lal deposits located on approved Mining Licences MIN5408, MIN5365 and MIN5409 respectively.

At Pittong mining contractors deliver crude kaolin ore to stockpiles from the two currently operating mines, Pittong and Lal Lal. The plant takes its feedstock from the ROM and it is processed into four separate product forms for end users. These product forms are 10% moisture lump, high solids slurry, 1% moisture powder and 1% moisture pulverised powder. The solids slurry is used in paper and board manufacturing. The other products are used in paper, coatings, paint and specialist industries including rubber and pharmaceutical applications. Around 20-25kt per annum is supplied to various end users.

Gabbin Kaolin Project

The 100% owned Gabbin Kaolin Project (White Cloud) is located 215km northeast of Perth, Western Australia. The project area comprises four granted exploration licences (E70/5039, E70/5332, E70/5333, E70/5517) for 413km[2] , centred around the town and rail siding of Gabbin. The generally flat area is primarily cleared farming land devoid of native bushland and is currently used for broad-acre cereal cropping. A mining access agreement is in place over the current resource area with the landowner and occupier.

The main rock types at Gabbin are primarily Archaean granite, gneiss, and migmatite. These rocks are overlain and obscured by Tertiary sand and Quaternary sheetwash. The weathering profile is very deep and contains thick kaolin horizons capped by mottled clays or laterite zones.

Eneabba Silica Sands Project

The 100% owned Eneabba Silica Sands Project is located 300km north of Perth, Western Australia. The project comprises four granted exploration licences (E70/5001, E70/5322, E70/5323, E70/5324) for 169km[2] . The project is located on the Eneabba Plain whose sandy cover is very flat to gently undulating. Outcrop is rare due to the accumulations of windblown and alluvial sand at surface. Below this is a thin hard silcrete or lateritic claypan which overlies deep white and yellow sands.

Forward-Looking Statements

This release may contain certain forward-looking statements with respect to matters including but not limited to the financial condition, results of operations and business of SUV and certain of the plans and objectives of SUV with respect to these items.

These forward-looking statements are not historical facts but rather are based on SUV’s current expectations, estimates and projections about the industry in which SUV operates and its beliefs and assumptions.

Words such as "anticipates," “considers,” "expects," "intends," "plans," "believes," "seeks," "estimates", "guidance" and similar expressions are intended to identify forward looking statements and should be considered an at-risk statement. Such

==> picture [561 x 88] intentionally omitted <==

==> picture [561 x 89] intentionally omitted <==

statements are subject to certain risks and uncertainties, particularly those risks or uncertainties inherent in the industry in which SUV operates.

These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the control of SUV, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Such risks include, but are not limited to resource risk, product price volatility, currency fluctuations, increased production costs and variances in product grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the countries and states in which we sell our product to, and government regulation and judicial outcomes. For more detailed discussion of such risks and other factors, see the Company’s Annual Reports, as well as the Company’s other filings.

SUV cautions shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of SUV only as of the date of this release.

The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made.

SUV will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

==> picture [561 x 89] intentionally omitted <==

==> picture [561 x 89] intentionally omitted <==

==> picture [561 x 89] intentionally omitted <==

==> picture [561 x 89] intentionally omitted <==

==> picture [561 x 88] intentionally omitted <==