MYECO GROUP LTD — Capital/Financing Update 2014

Apr 8, 2014

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED

DATE: 9 April 2014

CARDIA SUCCESSFULLY COMPLETES $2,700,000 CAPITAL RAISING.

Cardia Bioplastics Limited (“Cardia” or the “Company”) (ASX: CNN) is pleased to advise that its non-renounceable pro rata Rights Issue (the “Offer”) announced on 6 March 2014 to raise up to $2,700,000 from Eligible Shareholders closed on 4 April 2014 with strong support from Cardia’s existing shareholders and new investors.

The Directors of Cardia are pleased to announce that the Company has successfully raised the full amount of $2,700,000 (before costs) applying for a total of 900,000,001 New Shares to be issued at $0.003 plus a total of 299,999,873 free attaching New Options exercisable on or before 31 December 2014 at $0.006. The results of the Offer are outlined in the table below.

Results of RightsIssue Offer	Value($)beforecosts	New Shares at$0.003	Free AttachingOptions (Expiry31 December2014, ExercisePrice$0.006)	Percentage (%)take up of thetotal securitieson offer
Eligible ShareholderAcceptances(including take up ofAdditional NewShares)	1,716,531	572,176,983	190,725,547	63.58%
Shortfall Applicationsreceived under theProspectus terms	983,469	327,823,018	109,274,326	36.42%
Total Amount Raised	2,700,000	900,000,001	299,999,873	100.00%

The Directors are pleased with the outcome of the Offer, appreciate the support from Cardia shareholders and wish to thank all shareholders and new investors that participated in the capital raising.

Allotment and issue of the New Shares and Options is expected to occur on 11 April 2014 with dispatch of holding statements to occur on 14 April 2014 and trading on the ASX expected to commence on 15 April 2014.

The Rights Issue result demonstrates the market confidence in Cardia Bioplastics and the growth in the global Bioplastics market. Cardia Bioplastics has had an exceptional start to

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2014 winning new sales contracts in Brazil, China, USA, Canada, Australia, the UK and the Maldives. Cardia Bioplastics is seeing increased demand for its resins as well as films and finished products in both Cardia Compostable and Biohybrid™ranges.

As a Board of Directors we are very pleased with the result of the capital raising. The investment of $2,700,000 by existing shareholders and new investors demonstrates the strong confidence in our business and products. These funds will enable Cardia to forge ahead by expanding production and leveraging our sales pipeline to deliver strong growth.

Yours sincerely

Richard Tegoni Chairman

Frank Glatz Managing Director