MINDAX LIMITED — Capital/Financing Update 2021

Jan 26, 2021

==> picture [596 x 138] intentionally omitted <==

ASX ANNOUNCEMENT

27 January 2021

ASX Code: MDX ABN: 28 106 866 442

Principal Address

Suite 2 11 Ventnor Avenue West Perth WA 6005 Telephone: +61 8 9389 2111 Facsimile: +61 8 9389 2199 Email: info@mindax.com.au

Registered Office

Suite 2 11 Ventnor Avenue West Perth WA 6005

Investor Enquiries

Mr Benjamin Chow Chief Executive Officer Telephone: +61 8 9389 2111 Email: info@mindax.com.au

CAPITAL RAISING - UPDATE

Mindax Limited (ASX: MDX ) ( Company) is pleased to provide this update on its completed fund raising activities.

On 23 October 2020, shareholders authorised the issue of up to 480,000,000 shares at an issue price of $0.005 each ( AGM Placement Facility ), (refer notice of meeting lodged with ASX on 24 September 2020).

On 3 December 2020 and 11 January 2021, the Company allotted 6,500,000 shares and 38,000,000 shares respectively to investors utilising the AGM Placement Facility.

A further 435,500,000 new shares under the AGM Placement Facility and 44,500,000 new shares under ASX Listing Rule 7.1 were allotted by the Company on 22 January 2021.

The Company now has approximately $2.4M in available cash reserves.

The Company’s short term funding requirements are now satisfied, and the raising provides sufficient working capital to allow it to pursue its objectives.

A further Company update on its projects will be issued as soon as practicable. The Company will also commence discussions with ASX to determine the requirements for removal of the current suspension from quotation of the Company’s securities.

This announcement has been authorised for release by Dennis Wilkins, Company Secretary.

End of Announcement

For further information contact:

Benjamin Chow Chief Executive Officer Mindax Limited Telephone: +61 8 9389 2111

==> picture [216 x 77] intentionally omitted <==

MINDAX LIMITED | www.mindax.com.au