LARK DISTILLING CO. LTD — Capital/Financing Update 2018

Dec 17, 2018

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ASX Release Australian Whisky Holdings Limited

18 December 2018

Repayment of Loans to Bananacoast Community Credit Union Ltd (“BCCU”) and Dowd Corporate Finance Pty Ltd (“Dowd”)

Australian Whisky Holdings Limited (ASX: AWY) ( the Company) is pleased to advise that it has settled the repayment of $4,810,000 of principal loans to BCCU and Dowd.

The loans were required to settle the purchase of the Nant Estate in Bothwell, Tasmania. The repayment of these loans were made from the proceeds of the capital raising announced by the Company on 6 November 2018 that raised $11,946,049. After the loan repayments, the Company holds cash resources in excess of $9,000,000. These loans were due to mature in mid-February, 2019 and the loans have been repaid early. Following the release of the security by the lenders the Nant Estate is now unencumbered. The retirement of these major secured creditors from the recent capital raising has significantly strengthened the group’s balance sheet.

The Company continues to strengthen the financial position of the Group and looks forward to expanding the production capacity of its distilleries into the New Year.

Chairman of the Company, Terry Cuthbertson is pleased with the support of existing and new shareholders of the Company to facilitate the repayment of an expiring debt profile stating “The Company continues to have a positive support base from its shareholders that has enabled the Company to reposition its balance sheet to support the future growth plans of the business”.

For further information, please contact Gary Stewart, Company Secretary.

Yours sincerely,

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Gary Stewart-Company Secretary

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AUSTRALIAN WHISKY HOLDINGS LIMITED Level 4, 283 George Street, Sydney, NSW 2000 ASX AWY ABN 6210 4600 544 W australianwhiskyholdings.com P +61 (2) 8188 1491