( Subject to deed of company arrangement)

ABN 90 118 710 508

Level 1, 8-12 Market Street

Fremantle WA 6160

t: +61 8 9431 9888

f: +61 8 9431 9800

www.citation.net.au info@citation.net.au

11 July 2017

ASX Announcement

Company Announcements Office Australian Securities Exchange Level 6, 20 Bridge Street

SYDNEY NSW 2000

Via E Lodgment

COMPANY UPDATE Capital Raising

Citation Resources Limited (subject to Deed of Company Arrangement) ('Citation' or the 'Company') (ASX: CTR) is pleased to announce that it is undertaking a Capital Raising via Public Offer of 25 million shares at an issue price of $0.20 per share to raise $5 million.

In addition to the purpose of raising funds under the Public Offer, the Prospectus is issued for the purposes of re-complying with the admission requirements under chapters 1 and 2 of the Listing Rules following a change in the nature and scale of the Company's activities.

The Offers are not underwritten.

Further details are provided in the Prospectus, which is attached.

For and on behalf of the Board

Citation Resources Limited (subject to Deed of Company Arrangement) Citation Resources Limited (subject to Deed of Company Arrangement)

ACN 118 710 508

To be renamed Pearl Global Limited.

For the public offer of 25 million Shares at an issue price of $0.20 per Share to raise $5 million. The public offer also incorporates a priority offer to those persons who made an application to purchase shares under the Company's prospectus dated 23 October 2015, but who did not receive shares or a refund, up to the amounts returned to them pursuant to the DOCA and (as the case may be) the Landau Creditors' Trust or the Trust Creditors' Trust (Public Offer).

This Prospectus also contains separate offers to the Pearl Vendors (Vendor Offer) and other offers as detailed in the Prospectus (Other Offers). No funds will be raised from the Vendor Offer and a total of up to $3,600 will be raised from the Other Offers. Please refer to Section 6 for further details. In addition to the purpose of raising funds under the Public Offer, this Prospectus is issued for the purposes of re- complying with the admission requirements under chapters 1 and 2 of the Listing Rules following a change in the nature and scale of the Company's activities.

The Offers are subject to and conditional upon the satisfaction of the Offer Conditions. If the Offer Conditions are not satisfied, no Securities will be issued pursuant to this Prospectus and the Company will repay all money received from Applicants without interest.

The Deed Administrators of Citation Resources Limited (Subject to Deed of Company Arrangement) have delegated the authority to prepare and issue this Prospectus to Mr Victor Turco and Mr Bert Huys in their capacity as Directors. In this regard, this Prospectus has been prepared by the Directors and the Deed Administrators are not responsible for its contents. Accordingly, the Deed Administrators and their servants, agents and employees do not make any representation or warranty (express or implied) as to the accuracy, reasonableness or completeness of the information contained in this Prospectus and do not accept responsibility or liability for the accuracy of any information included, or any failure to include information in this Prospectus.

The Offers are not underwritten.

Important information: This Prospectus provides important information to assist prospective investors to decide whether or not to invest in the Company. It should be read in its entirety. If you do not understand it, you should consult your professional advisers. THE SECURITIES OFFERED BY THIS PROSPECTUS SHOULD BE CONSIDERED SPECULATIVE.

Lead Manager

Solicitors

Contents

  1. Corporate directory 2

  2. Important notices 3

  3. Company overview and Recapitalisation Proposal 6

  4. Key information and indicative timetable 11

  5. Investment overview 12

  6. Details of the Offers 26

  7. Pearl & industry overview 35

  8. Investment risks 40

  9. Material contracts 48

  10. Financial Information and Investigating Accountant's Report 60

  11. Directors, substantial Shareholders & corporate governance 75

  12. Additional information 90

  13. Directors' authorisation 100

  14. Glossary 101

Annexure A: Pearl Vendors 107

Annexure B: Pearl Noteholders 109

Annexure C: Accounting policies 110

Application Form 115

2

1 Corporate directory

Directors

Lead Manager

Mr Victor Turco

Non-Executive Director

Mr Bert Huys

Non-Executive Director

Cadmon Advisory Pty Ltd Level 31, 120 Collins Street

MELBOURNE VIC 3000

Tel: +61 3 9225 5389

Email: group@cadmon.com.au Website: www.cadmon.com.au

Company Secretary

Investigating Accountant

Phillip Macleod

Grant Thornton Corporate Finance Pty Ltd Level 17

383 Kent Street

Sydney NSW 2000

Company's Registered Office

Share Registry*

Citation Resources Limited (Subject to Deed of Company Arrangement)

Level 1, Wesley Central, 8 - 12 Market Street, Fremantle WA 6160

ASX Code: CTR

Tel: +61 8 9431 9888

Email: turco@turco.com.au

Website: www.citationresources.com.au

Computershare Investor Services Pty Limited

GPO Box 52, Melbourne VIC 3001

Tel: +61 3 9415 4000

Web: www.computershare.com/au

Solicitors

Auditor*

Lavan

Level 20, The Quadrant 1 William Street

PERTH WA 6000

Grant Thornton Audit Pty Ltd Level 1, 10 Kings Park Road

West Perth WA 6005

*This entity is included for information purposes only. It has not been involved in the preparation of this Prospectus.

Citation Resources Ltd. published this content on 22 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 22 November 2017 07:59:03 UTC.

Original documenthttp://citationresources.com.au/media/articles/ASX-Announcements/20171122-Original-Prospectus-10-July-2017-367/CTR-Announcement-Prospectus-11-07-17-merged.pdf

Public permalinkhttp://www.publicnow.com/view/74771441ECA0E83694C4D14D36D302D201E679B4