WEEBIT NANO LTD — Capital/Financing Update 2012

Jun 26, 2012

Placement at Premium to China based Strategic Investor completed

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• Placement raising $3.3M now completed

• Placement at 33 cents per share made at 22% premium to current price

ACN 146 455 576

• Radar funded to rapidly pursue exploration strategy for hematite resource definition

ASX Release

27 June 2012

• Future arrangements provide for development capital of up to $50M in exchange for off-take for the Central Yilgarn hematite projects

Suite 2, 12 Parliament Place West Perth WA 6005 PO BOX 902 West Perth WA 6872

P + 61 8 9482 0580 F + 61 8 9482 0505 E info@radariron.com.au W www.radariron.com.au

Contact:

Jonathan Lea Managing Director E jlea@radariron.com.au

Phillip Wingate

Company Secretary E pwingate@radariron.com.au

Directors:

Alan Tough - Chairman Jonathan Lea - Managing Director Ananda Kathiravelu - Non-Executive

Issued Capital:

81,265,070 Ordinary Shares 23,050,000 Unlisted Options

ASX Code:

RAD (Fully Paid Ordinary Shares)

Media Enquiries:

Fortbridge +612 9003 0477 Bill Kemmery 0400 122 449

Radar Iron Ltd (ASX: RAD) is pleased to announce it has now completed the placement of 10 million new shares to a strategic Chinese investor. The placement, as announced on 5 June 2012, was completed at 33 cents, approximately 22% above the last traded price for Radar Iron’s shares at the time of the 5 June 2012 announcement, and raised $3.3 million before costs.

The funds provide sufficient working capital to allow Radar to pursue aggressively its objective of rapidly defining additional hematite resources at its Central Yilgarn project and to commence the mine development process.

The placement was made to Shinewarm Resources (HK) Group Limited (“Shinewarm”), the Hong Kong based investment vehicle of the privately owned Xiamen Meize Xinyuan Trading Co. Ltd. The trading company supplies iron ore, coal and base metals to industrial partners located throughout China.

Significantly, as part of the investment commitment, Radar Iron and Shinewarm will negotiate the commitment of up to $50 million capital to facilitate project development in exchange for the hematite off-take.

Managing Director Jonathan Lea said, “The completion of this investment allows Radar to invest in additional exploration and drilling to enable the rapid identification and development of hematite mineralisation at our Central Yilgarn Projects”.

“Shinewarm and its Chinese parent entity recognise the potential of Radar’s Yilgarn projects and the realistic infrastructure options in the region as being superior to that currently available elsewhere in Western Australia,” Mr Lea said.

The placement was completed using Radar’s 15% annual placement capacity and shareholder approval is not required.

An appendix 3B for the issue of shares is attached.

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PLACEMENT AT PREMIUM TO CHINA BASED STRATEGIC INVESTOR

Yours faithfully,

For or on behalf of Radar Iron Ltd

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Jonathan Lea Managing Director

About Shinewarm Resources and Xiamen Meize Xinyuan Trading Co. Ltd

Shinewarm Resources (HK) Group Limited (Shinewarm) is the Hong Kong based investment vehicle the privately owned Xiamen Meize Xinyuan Trading Co. Ltd which has been trading iron ore, coal and base metals to industrial partners such as steel mills, power generators, cement and tile producers and printing factories located throughout China. The company holds long term commodity supply commitment contracts, through joint venture agreements, with their industrial partners. They currently import coal from Australia, Indonesia, Vietnam, Philippines, United States, Colombia and Russia.

Shinewarm has a Sydney based subsidiary - Shinewarm Resources (AUST) Pty Ltd.

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Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

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, 24/10/2005.

Name of entity

Radar Iron Ltd

ABN

15 146 455 576

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 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)	Ordinary Shares
	(a) 10,000,000 (b) 102,941
	Ordinary Shares, ranking equally with ordinary shares on issue from the date of allotment

• See chapter 19 for defined terms.

Appendix 3B Page 1

1/1/2003

Appendix 3B New issue announcement

4 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 5 Issue price or consideration 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) 7 Dates of entering+securities into uncertificated holdings or despatch of certificates 8 Number and +class of all +securities quoted on ASX (including the securities in clause 2 if applicable 9 Number and +class of all +securities not quoted on ASX (including the securities in clause 2 if applicable)	Yes.	Yes.
	(a) $0.33 per share (b) Nil cash. Services rendered to the value of $0.34per share
	(a) Placement to fund the ongoing exploration activities and working capital (b) In consideration for services rendered.
	26 June 2012.
	Number	+Class
	58,449,458	Fully Paid Ordinary Shares
	Number	+Class
	22,815,612 20,375,000 2,375,000 300,000	Fully Paid Ordinary Share (subject to escrow) $0.25 options exercisable on or before 30 November 2013 (unlisted) $0.30 options exercisable on or before 31 May 2014 (unlisted) $0.45 options exercisable on or before 31 July 2014 (unlisted)

• See chapter 19 for defined terms.

Appendix 3B Page 2

1/1/2003

Appendix 3B New issue announcement

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 Is security holder approval required? 12 Is the issue renounceable or non- renounceable? 13 Ratio in which the+securities will be offered 14 +Class of+securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions 18 Names of countries in which the entity has+security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission 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

• See chapter 19 for defined terms.

Appendix 3B Page 3

1/1/2003

Appendix 3B New issue announcement

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.

Appendix 3B Page 4

1/1/2003

Appendix 3B New issue announcement

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

• 37 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

• See chapter 19 for defined terms.

Appendix 3B Page 5

1/1/2003

Appendix 3B New issue announcement

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)

Number +Class

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

• See chapter 19 for defined terms.

Appendix 3B Page 6

1/1/2003

Appendix 3B New issue announcement

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.

• 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.

Sign here: (Director/ Company Secretary )

Date: 27 June 2012

Print name: Phillip Wingate

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 7