ION VIDEO LTD — Capital/Financing Update 2013

Jun 12, 2013

Dear Shareholder

Firestrike Resources Limited - pro-rata non-renounceable rights issue

As announced on 11 June 2013, Firestrike Resources Limited (ACN (149 796 332)) ( Company ) is undertaking a 1 for 1 non-renounceable rights issue ( Rights Issue or Offer ) of one listed Option ( New Options ) for every one Share to raise approximately $320,000. The price of the New Options under the Offer is $0.01 each ( Issue Price ). Each New Option is exercisable at $0.075 for one Share in the Company on or before 31 December 2016. The Company lodged a prospectus for the Offer ( Prospectus ) with ASIC and ASX on 11 June 2013.

The funds raised from the Offer are planned to be used in accordance with the table set out below (assuming the Offer is fully subscribed):

Proceeds of the Offer	$
Additional working capital including funding exploration and meetingthe commitments in respect of the Company’s existing explorationprojects over the next 12 months	290,143
Expenses of the Offer	29,857
Total	320,000

There is no minimum subscription in respect of the Offer. Any funds raised will first be applied towards the expenses of the offer and any balance will be used for working capital.

The Offer is being made to all shareholders of the Company ( Shareholders ) named on its register of members at 7:00pm (AEST) on 20 June 2013, whose registered address is in Australia or New Zealand.

The Shares to be issued on exercise of the New Options will rank equally with all fully paid ordinary shares in the capital of the Company ( Shares ) already on issue.

The Company currently has no Options on issue. Following completion of the Offer, the Company will have issued 32,000,000 New Options.

Ineligible shareholders

A Shareholder who has a registered address outside Australia and New Zealand ( Ineligible Shareholder ) will not be eligible to participate in the Offer.

You are not eligible to participate in the Offer and you will not be sent a copy of the Prospectus. This decision has been made pursuant to Listing Rule 7.7.1(a) of the ASX Listing Rules after taking into consideration the costs of complying with legal and regulatory requirements in jurisdictions outside of Australia and New Zealand compared with the small number of Ineligible Shareholders and the number and value of the New Options to which they would otherwise be entitled.

The Company may appoint a nominee approved by ASIC ( Nominee ) as nominee to sell the rights to subscribe for Ineligible Shareholders’ Entitlements. The Nominee will have the absolute and sole discretion to determine the timing and price at which the Entitlements may be sold and the manner of any such sale.

Any interest earned on the proceeds of the sale of these Entitlements will firstly be applied against expenses of such sale, including brokerage, and any balance will accrue to Ineligible Shareholders.

The net proceeds of the sale of these Entitlements will then be forwarded by the Company as soon as practicable to the Ineligible Shareholders, in proportion to their share of such Entitlements (after deducting brokerage commission and other expenses). If any such net proceeds of sale are less than the reasonable costs that would be incurred by the Company for distributing those proceeds, such proceeds may be retained by the Company.

Notwithstanding that the Nominee may sell Entitlements, Ineligible Shareholders may nevertheless receive no net proceeds if the costs of the sale are greater than the sale proceeds.

There is no guarantee that the Nominee will be able to sell Entitlements of Ineligible Shareholders on ASX and Ineligible Shareholders may receive no value for the Entitlements. Both the Company and the Nominee take no responsibility for the outcome of the sale of such Entitlements or the failure to sell such Entitlements.

If you have any queries concerning the Rights Issue, or the action you are required to take to subscribe for New Options, please contact your financial adviser or Paul Lloyd, Joint Company Secretary, on +61 (08) 9476 9209.

Yours faithfully

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David Holden

Managing Director