UNION STAR METALS LTD — Capital/Financing Update 2018

Apr 30, 2018

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ENTITLEMENT OFFER - NOTIFICATION OF SHORTFALL

Thred Ltd ( ASX : THD, Thred or the Company ) advises that its fully underwritten pro-rata non-renounceable Entitlement Offer (“Offer”) to raise up to approximately $2.36 million at $0.004 per New Share pursuant to the Offer Document dated 9 April 2018, closed on 26 April 2018. Thred’s Offer enabled eligible shareholders to subscribe for one (1) new fully paid ordinary share for every two (2) existing shares held on the Record Date, at an issue price of $0.004 per new share. The Offer Document also included a Shortfall Offer under which eligible shareholders could apply for additional new shares in excess of their pro rata entitlement (Shortfall Offer) (together, Offers).

The Company received valid applications under the Offers from eligible shareholders in respect of 131,821,942 new shares. Total funds raised from accepted applications was $527,288.

The remaining shares under the Offers (Shortfall Shares), being 464,641,768 shares, will be taken up by CPS Capital Group as underwriter to the Offer, and will be issued in accordance with the underwriting agreement.

Total funds to be raised from accepted applications from eligible shareholders and shortfall shares issued pursuant to the underwriting agreement will total approximately $2.36 million.

The issue of the 131,821,942 ordinary fully paid shares at $0.004 per share pursuant to the Offers is scheduled to take place on Thursday, 3 May 2018. Quotation on a "Deferred Settlement" basis was granted as from the commencement of trading on Friday, 27 April 2018.

Thred: Thred Limited (ASX: THD) is a technology company with expertise in geo-location, augmented reality and new communication technologies which yield big data. Thred has developed an in-market version of its new augmented reality and geo-locked chats platform, called Sweep .

Sweep will continually innovate features to leverage important new technologies such as, but not limited to, augmented reality and geolocation. The Company will also progressively integrate proven and tested AR and geo-locked features over the coming months to increase its user audience and drive revenue growth via a new and effective business model. Sweep is now available through iTunes & Play Store. Following a period of user feedback around Sweep features, Thred will periodically release a schedule of updates to Sweep, delivering new features and improvements to increase its user uptake and retention.

Thred has also established an enterprise version of its business model called Agent Reality . This is intended to leverage the Sweep platform technology and capabilities and provide them to brands and 3[rd] party distribution channels. This model delivers the duality of mutual learnings across both consumer and enterprise models while establishing multiple monetisation channels for our Company.

Agent Reality and Sweep are Thred Innovations

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