UNION STAR METALS LTD — Capital/Financing Update 2016

Jun 2, 2016

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ASX ANNOUNCEMENT

3 June 2016

OFFER CLOSED and REINSTATEMENT APPROVED

Promesa Ltd (to be renamed Thred Limited) (the ‘Company’) is pleased to announce that its Public Offer has closed, along with the included Priority Offer, in accordance with the offer timetable announced in the replacement prospectus dated 16 May 2016.

The offer was of up to 200,000,000 Shares at an issue price of $0.05 per Share to raise up to $10,000,000 with a minimum subscription of $5,000,000. The offer closed oversubscribed. All shares have been allotted and the Public Offer will result in the issue of 127,020,235 shares at an issue price of $0.05 in the Company, raising $6,351,011.75.

The Company’s application for reinstatement to quotation on the Australian Securities Exchange (ASX) has now been considered by ASX and approved, subject to standard conditions.

Reinstatement of the Company’s securities to trading is anticipated to take place in the second half of June 2016.

The ASX ticker code for the Company will be THD.

For or on behalf of Promesa Ltd

Damon Sweeny

Company Secretary

Page 1 ABN 36 124 541 466 Suite 8, 55 Hampden Road, Nedlands WA 6009 Phone: +61 8 9389 5885 P.O.Box 994, Subiaco WA 6904