REDCASTLE RESOURCES LIMITED — Interim / Quarterly Report 2016

Jan 31, 2016

TRANSCENDENCE TECHNOLOGIES LIMITED Suite 6, 295 Rokeby Road

SUBIACO WA 6008 ABN 57 096 781 716 PH: +61 (0)8 6555 2950 FX: +61 (0)8 6166 0261 EM: info@grpcorporation.com W: www.grpcorporation.com

ASX / MEDIA RELEASE ASX: TTL 29 January 2016

TRANSENDENCE TECHNOLOGIES LIMITED DECEMBER 2015 QUARTERLY ACTIVITIES REPORT

The Board of Transcendence Technologies Limited ('Transcendence or 'the Company') is pleased to report on its activities and operations for the quarter ended 31 December 2015.

Completion of Working Capital Raise via Share Placement and Convertible Note

During the quarter the Company completed a placement of 3,790,240 fully paid ordinary shares at $0.02 per share raising a total of $75,804.80. Each share issued has one free attaching option exercisable at $0.03 and an expiry date of 3 years from the date of issue.

In conjunction with the placement, the Company also completed an issue of 12,000,000 Convertible Notes. The Convertible Notes were converted into fully paid ordinary shares with one free attaching option ($0.03 and an expiry date of 3 years from the date of issue) following shareholder approval at the Company's annual General Meeting.

Changes to Directors

During the quarter Mr Peter Wall was appointed as a Non-Executive Director of the Company and Mr Grant Gibson resigned.

Mr Wall is a corporate lawyer and Partner at Steinepreis Paganin and has a wide range of experience in all forms of commercial and corporate law, with a particular focus on equity capital markets, mergers and acquisitions and corporate reconstructions and recapitalisations.

Acquisition of E-Collate Pty Ltd and Completion of $3,600,000 Capital Raise

On 20 October 2015, the Company announced that it had entered into a binding heads of agreement (Acquisition Agreement) with E-Collate Pty Ltd (E-Collate) to conditionally acquire 100% of the issued capital in E-Collate (Acquisition).

E-Collate is a Melbourne based technology company that is developing communication platforms and data systems to link multi-source data to provide meaningful information for efficient decisions making. The core multi-source data collation and decision support systems and platforms have applications across a wide variety of industry sectors and consumer groups including consumer, business and enterprise.

On 5 November 2015, the Company announced to ASX that the Company and E-Collate had completed their due diligence investigations and on 9 December 2015 the Company's Shareholders passed the necessary Shareholder resolutions at the Annual general Meeting.

The Company lodged a Prospectus on 14 December to re-comply with Chapters 1 and 2 of the ASX Listing Rules and to provide GRP with funding to pursue the commercialisation strategy for the E-Collate Business post Acquisition.

Under the Prospectus, GRP was seeking to:

• raise $3,600,000 by the issue of 120,000,000 Shares at an issue price of $0.03 per Share;
• issue the Consideration Securities to existing E-Collate Shareholders in exchange for their interests in E-Collate;
• issue 12,000,000 Shares and 12,000,000 Options to the Convertible Noteholders; and
• issue 8,310,000 Shares to the Debtors .

The Prospectus was closed over subscribed on 24 December.

The acquisition of E-Collate signifies an important transforming event that will see the Company focus its business activities on the development of E-Collate.

The funds raised from the Public Offer, together with the Company's and E-Collate's existing cash reserves will be primarily used to develop the existing E-Collate business as well as new business opportunities as set out in this Prospectus.

Subsequent Events

Since the end of the quarter the Company has received a letter from ASX confirming conditional approval for The Company to be reinstated to quotation on ASX. The Company is currently completing the conditions precedent required under the letter and expects to complete the acquisition of E-Collate Pty Ltd and be re-quoted on ASX.

- Ends-

For further information please contact:

Transcendence Technologies Limited Mr Mark Rowbottam Non-Executive Chairman mark@allegracorp.com.au 08 9385 0700