WEEBIT NANO LTD — Capital/Financing Update 2011

May 1, 2011

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2 May 2011

Centralised Company Announcements Platform, Australian Stock Exchange 10th Floor, 20 Bond Street Sydney NSW 2000

ALLOTMENT OF ENTITLEMENTS ISSUE SECURITIES

With reference to the Appendix 3B lodged on 22 March 2011, Radar Iron Ltd (“Radar” or the “Company”) has today allotted a total of 16,614,773 options exercisable at 45 cents expiring on 30 April 2012, for which ASX quotation has been applied for by the Company.

The new capital structure of the company is as follows:

Type of Securities	#
Fully paid ordinary shares	61,880,112
Listed Options exercisable at 45c each expiring on 30 April 2012	16,614,773
Unlisted Options exercisable at 25c each expiring on 30 November 2013	20,375,000
Unlisted Options exercisable at 30c each expiring on 31 May 2014	2,375,000

Trading of the New Options is expected to commence on 3 May 2011.

Attached are the top 20 listed option holder report and the distribution report for listed options.

For or on behalf of Radar Iron Ltd

Phillip Wingate Company Secretary

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RADAR IRON LIMITED RADAR IRON LIMITED OPTIONS EXP 30 APRIL Page - 1 Holder name 1 * TRANSIT HLDGS LTD 2 JONCA INV PL 3 * SHIPBAG PL 4 RBC DEXIA INVESTOR SVCS A 5 NBT PL 6 CADEX PETROLEUM PL 7 * CRAOE INV PL 8 SILKTREE INV PL 9 PG BINET PL 10 * HAGEN ERIC L + OGLEY D I 11 * MOORE JOHN DANIEL 12 * JOHN + EMMA HANNAFORD SUP 13 WESTTIN PL 14 ENDEAVOR PL 15 FALK JAMES ALEXANDER 16 * SABRE POWER SYSTEMS PL 17 * LEA JONATHAN + GLEESON J 18 BLACKCAT HLDGS PL 19 TREMAYNE JULIE 20 TECHNICDRAW PTY LTD *** Top 20 total *** ** All holders included

Spread & Top 20 Listing Date - 29/04/2011 Time - 16.23.47 2012 @ $0.45 User - KELLY SRSPTP *- Current Status -* *- As at: 0/00/00 -* Designation Units % of issued Units % of issued 7,563,538 45.52% MAUTALANT UNIT A/C 439,455 2.64% SHIPBAG S/F A/C 183,674 1.11% MLCI A/C 169,595 1.02% 166,667 1.00% 166,667 1.00% CAROLYN MEAGHER A/ 166,667 1.00% VASSILEFF S/F A/C 146,667 .88% 133,334 .80% NICKLUP S/F A/C 125,000 .75% 125,000 .75% HANNAFORD S/F A/C 116,667 .70% 110,000 .66% ENDEAVOR INV A/C 102,646 .62% 100,000 .60% 88,334 .53% GLEASON FAM A/C 83,334 .50% 83,334 .50% 83,334 .50% N&M IUSTINI FAM A/ 83,334 .50% _____________ _______ ___________ _______ 10,237,247 61.58% % * - Denotes merged holder

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RADAR IRON LIMITED RADAR IRON LIMITED OPTIONS EXP 30 APRIL 2012 @ $0.45 Page - 2 Spread of holdings Holders NIL holding 1 - 1,000 32 1,001 - 5,000 116 5,001 - 10,000 75 10,001 - 100,000 173 100,001 - 14 _______ ___ Total on register 410 _______ ___	Securities 23,107 372,328 589,449 5,914,312 9,715,577 __________ 16,614,773 __________	Spread Analysis Listing Date - 29/04/2011 Time - 16.23.47 User - KELLY SRSPTP % of issued capital .14 % 2.24 % 3.55 % 35.60 % 58.48 % ________ 100.00 % ________