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POLARX LIMITED Capital/Financing Update 2021

Feb 16, 2021

65639_rns_2021-02-16_74798247-a5ca-41cd-9fba-69e6f6b3263b.pdf

Capital/Financing Update

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ASX Announcement

17 February 2021

COMPLETION OF PLACEMENT AND CLEANSING NOTICE

PolarX Limited (ASX:PXX) (“the Company”) advises that further to its announcement of 10 February 2021, it has now completed the placement of 125,000,000 ordinary shares (“Shares”) at an issue price of $0.04 per Share (“the Placement”). The Placement was undertaken pursuant to the Company’s available capacity under Listing Rules 7.1 (71,005,822 Shares) and 7.1A (53,994,178 Shares).

Cleansing Notice

The Company issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) (“the Act”). For the purposes of section 708A(5)(e) of the Act, the Company notifies ASX that:

(a) the Shares were issued without disclosure to investors under Part 6D.2 of the Act;
(b) this notice is being given under section 708A(5)(e) of the Act;
(c) as at the date of this notice, the Company has complied with:
- (i) the provisions of Chapter 2M of the Act as they apply to the Company; and
- (ii) section 674 of the Act; and
(d) as at the date of this notice, there is no information that:
- (i) has been excluded from a continuous disclosure notice given to ASX in accordance with the ASX Listing Rules; and
- (ii) investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:
  - (A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or
  - (B) the rights and liabilities attaching to fully paid ordinary shares.

Authorised for release by the Board.

For further information contact: