ZEOTECH LIMITED — Capital/Financing Update 2017

May 23, 2017

Level 4, 216 St Georges Terrace, Perth, WA, 6000, Australia PO Box 7315, Perth, WA, 6850, Australia T : +61 8 6268 2698 F : +61 6268 2699

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24 May 2017

ASX Market Announcements ASX Limited 20 Bridge Street Sydney NSW 2000

Entitlement Issue Closure and Notice of Shortfall

Laconia Resources Limited advises that the pro-rata non-renounceable entitlement issue pursuant to the Offer Document dated 1 May 2017, closed on 19 May 2017 ( Entitlement Issue or Offer ).

The Entitlement Issue offered, to eligible shareholders, one (1) new share for every three (3) shares held on the record date, at an issue price of $0.02 per new share.

Shares validly applied for under the Offer and the number of shortfall shares is summarised below:

	Number	Subscription amount at $0.02 per share
Total Shares offered	33,678,368	$673,567.36
Shares validly applied for under the Offer	14,033,199	$280,663.98
Shortfall available to be placed at discretion of Directors	19,645,169	$392,903.38

Pursuant to the terms of the Offer Document, the Directors have received commitments for placement of the shortfall shares on the same terms as the new shares offered pursuant to the Offer Document. Shortfall shares will be issued on receipt of cleared funds.

Yours faithfully

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Neville Bassett Director

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