SPRINTEX LIMITED — Capital/Financing Update 2012

Jan 23, 2012

SPRINTEX LIMITED ABN: 38 106 337 599

24 January 2012

ASX ANNOUNCEMENT

SPRINTEX LIMITED – PLACEMENT – NOTICE PURSUANT TO CHAPTER 6D.2 AND 6D.3 OF THE CORPORATIONS ACT

On 5 January 2012, Sprintex Limited (Company) allotted 3,000,000 Shares at 2 cents per Share to raise $60,000 to private investors.

Notice under section 708A(6) of the Corporations Act

The Company hereby notifies that:

• (a) the Company issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (the Act);
• (b) the Company is providing this notice in accordance with this exemption;
• (c) as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;
• (d) as at the date of this notice, the Company has complied with section 674 of the Act;
• (e) as at the date of this notice, there is no information:
  • (i) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and
  • (ii) that 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 the Shares.

The following table shows the number of Shares on issue as at the date of this notice following the issue of the Shares.

Total Shares on issue as at date of this Notice	625,852,625
Placement Shares	3,000,000
Shares on issue prior to Placement	622,852,625

Jay Stephenson Company Secretary SPRINTEX LIMITED

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Sprintex Limited

ABN

38 106 337 599

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued Shares

• 2 Number of +securities issued or to be issued (if known) or maximum number which may be issued
• 3 Principal terms of the + securities (eg, if options, exercise price and expiry date; if partly paid + securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

3,000,000

Fully Paid Ordinary Shares

4	Do the +securities rank equally in allrespects from the date of allotmentwith an existing +class of quoted+securities?	Yes
	If the additional securities do notrank equally, please state:the date from which they dotheextenttowhichtheyparticipate for the next dividend,(inthecaseofatrust,distribution) or interest paymentthe extent to which they do notrankequally,otherthaninrelation to the next dividend,distribution or interest payment
5	Issue price or consideration	$0.02 per Share
6	Purpose of the issue(If issued as consideration for theacquisition of assets, clearly identifythose assets)	Private Placement
7	Dates of entering +securities intouncertificated holdings or despatchof certificates	19January 2012
		Number	+Class
8	+classNumberandofall+securitiesquotedonASX(including the securities in clause 2if applicable)	625,852,625	FullyPaidOrdinaryShares
		49,801,108	Optionsexpiring30June2012atanexercise price of $0.08per option.

+ See chapter 19 for defined terms.

9 Number and +class of all + securities not quoted on ASX (including the securities in clause 2 if applicable)

Number	+Class
20,000,000	5,000,000 each of ClassA,B,C,andDPerformance Rights

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

Part 2 - Bonus issue or pro rata issue

11	Issecurityholderapprovalrequired?
12	Is the issue renounceable or nonrenounceable?
13	Ratio in which the +securities willbe offered
14	+Class of +securities to which theoffer relates
15	+Recorddatetodetermineentitlements
16	Will holdings on different registers(or subregisters) be aggregated forcalculating entitlements?
17	Policy for deciding entitlements inrelation to fractions
18	Names of countries in which theentity has +security holders who willnot be sent new issue documents
	Note: Security holders must be told how theirentitlements are to be dealt with.
	Cross reference: rule 7.7.
19	Closingdateforreceiptofacceptances or renunciations
20	Names of any underwriters
21	Amount of any underwriting fee orcommission

• 22 Names of any brokers to the issue
• 23 Fee or commission payable to the broker to the issue
• 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of + security holders
• 25 If the issue is contingent on + security holders' approval, the date of the meeting
• 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled
• 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
• 28 Date rights trading will begin (if applicable)
• 29 Date rights trading will end (if applicable)
• 30 How do + security holders sell their entitlements in full through a broker?
• 31 How do + security holders sell part of their entitlements through a broker and accept for the balance?
• 32 How do + security holders dispose of their entitlements (except by sale through a broker)?
• 33 +Despatch date

• See chapter 19 for defined terms.

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• (a) Securities described in Part 1
• (b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35 If the + securities are +equity securities, the names of the 20 largest holders of the additional + securities, and the number and percentage of additional + securities held by those holders

• 36 If the + securities are +equity securities, a distribution schedule of the additional + securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over
• 7 A copy of any trust deed for the additional + securities

Entities that have ticked box 34(b)

• 38 Number of securities for which +quotation is sought
• 39 Class of + securities for which quotation is sought

40 Do the + securities rank equally in all respects from the date of allotment with an existing +class of quoted + securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
• 41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

42 Number and +class of all + securities quoted on ASX (including the securities in clause 38)

+Class

+ See chapter 19 for defined terms.

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.
• 2 We warrant the following to ASX.
  • The issue of the +securities to be quoted complies with the law and is not for an illegal purpose.
  • There is no reason why those +securities should not be granted +quotation.
  • An offer of the + securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any +securities to be quoted and that no-one has any right to return any +securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the +securities to be quoted, it has been provided at the time that we request that the +securities be quoted.
• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the +securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

JAY STEPHENSON COMPANY SECRETARY Date: 24 January 2012

+ See chapter 19 for defined terms.