IONIC RARE EARTHS LIMITED — Capital/Financing Update 2011

Dec 7, 2011

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8 December 2011

PROSPECTUS CLOSING DATES EXTENDED

Further to the announcement on the 11 November 2011, the Board of Ezenet Limited, (ASX: EZE) (to be known as Oro Verde Limited - ASX: OVL) has determined to extend, by a period of 7 days, the Priority Offer and the Public Offer Closing Dates for its Prospectus (dated 2 November 2011) as advised in the Supplementary Prospectus dated 11 November 2011.

As a result of this change, the Indicative Timetable released in the Supplementary Prospectus shall be replaced with the following timetable:

shall be replaced with the following timetable:
Event	Date
Lodgement of Prospectus with ASIC and opening date of the Priority Offer and the Public Offer	2 November 2011
Suspension of the Company’s securities from trading on the ASX (at the opening of trade)	28 November 2011
Annual General Meeting	28 November 2011
Priority Offer Closing Date	16 December 2011
Public Offer Closing Date	16 December 2011
Issue of Shares and despatch of holding statements	21 December 2011
Settlement of Acquisitions	23 December 2011
Expected date for re-quotation of the Company’s Shares on ASX	3 January 2012

Note 1 – This timetable is indicative only and subject to change. The Directors of the Company reserve the right to amend the timetable.

-ENDS-

For enquiries contact:

Mr Brett Dickson or Mr John Traicos Company Secretary General Manager + 61 8 94981 2555 + 61 417 885 279

Ezenet Limited ABN 84 083 646 477 Level 1, 30 Richardson Street, West Perth WA 6005 Telephone: +61 8 9481 2555 Facsimile: +61 9 485 1290