UNION STAR METALS LTD — Capital/Financing Update 2017

Jan 24, 2017

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(ASX: THD)
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ASX Announcement

25 January 2017

BETA RELEASE UPDATE & ENTITLEMENT OFFER - NOTIFICATION OF SHORTFALL

Unified social messaging software platform Thred Limited (ASX: THD) (“Thred” or the “Company”) is please to report satisfactory progress with its platform beta development phase, moving to the next iteration of testing and trials. Consistent with normal technology development practises the Thred platform has been extensively tested in a ‘closed beta group’ over the last few weeks. Being satisfied with the progress of this phase, Thred is now expanding the beta test group to a wider audience to further test new functionality and incorporation of additional features.

This will be followed shortly thereafter with external third party beta testing with select users and testers who reflect the target demographic. This process is essential and standard practice to ensure that the full release version of the Thred platform has encompassed the requisite user input to enhance market acceptance and alignment. The Company will continue to inform the market of the various iterations as they complete, leading up to the commercial launch of Thred, slated for quarter 4 of FY 2017.

Thred also advises that its fully underwritten pro-rata non-renounceable Entitlement Offer (“Offer”) to raise approximately $3.1 million pursuant to the prospectus dated 6 December 2016, closed on 24 January 2017. Thred’s Offer enabled eligible shareholders to subscribe for one (1) new fully paid ordinary share for every five (5) existing shares held on the Record Date, at an issue price of $0.02 per new share. The Company received applications under the Offer from eligible shareholders in respect of 3,426,326 new shares. The remaining shares under the shortfall (Shortfall Shares), being 151,542,530 shares will be taken up by Hunter Capital Advisors Pty Ltd as underwriter to the Offer, and will be issued in accordance with the underwriting agreement.

The issue of the 154,968,856 ordinary fully paid shares at $0.02 per share pursuant to the Offer is scheduled to take place on 1 February 2017. Quotation on a "Deferred Settlement" basis will be granted as from the commencement of trading on Wednesday, 25 January 2017.

For more information, please contact:

Geoff Marshall

Chair & Managing Director geoffm@thred.im

About Thred:

Thred Limited (ASX: THD) is a software platform working toward commercialisation of a unified social messaging platform and web and mobile app to enable cross platform communication. Based in Perth, the Company has developed systems that unify and centralise users’ contacts while providing a centralised communication hub. Thred aims to empower anyone, anywhere to easily connect with anyone else or any group across social networks, contact databases, email and more to create, manage and archive communications around relevant content.

Social Media Policy:

We believe in providing the highest levels of communications, and whilst the ASX remains the platform for market sensitive releases, we encourage all shareholders to follow Thred on Twitter (@theTHREDapp) , and view our latest Company overview at http://www.thred.im/

a: 8/55 Hampden Road, Nedlands WA 6009 m: PO Box 994, Subiaco WA 6904

t: +61 8 9389 5885 e: ir@thred.im