Reedy Lagoon Corporation Limited is to make a non-renounceable pro rata rights offer to eligible holders of RLC shares on a 1 for 4 basis at 1 cent per new RLC share, together with a related offer under which those holders can apply for additional new RLC shares at the offer price.

If fully subscribed, the rights offer and the related offer (together, the 'Offer') will raise $1,003,998 to fund exploration at RLC's gold and iron ore projects, continue its gold project development work, and for working capital.

Under the Offer an eligible shareholder can apply for any amount of new RLC Shares ('New Shares') but: they are only guaranteed to be allocated their Entitlement (the number of New Shares equal to 1 New share for every 4 RLC shares held by them at the Record Date, rounded up to the nearest whole number of New Shares) and all or some of the New Shares applied for above their Entitlement ('Additional Shares') may not be allocated to them where: (a) there are insufficient New Shares available and/or (b) RLC in its absolute discretion applies an allocation policy or scale back and/or their relevant interest in RLC shares would exceed 20%.

New Shares will only be available to meet applications for Additional Shares to the extent other eligible shareholders do not take up their Entitlements in full. The Record Date for determining Entitlements is 7:00 PM (AEST) on Wednesday 5 August 2020.

Existing RLC Shares will trade ex-entitlement from Tuesday 4 August 2020.

Contact:

Geof Fethers

Tel: (03) 8420 6280

Email: reedylagoon.com.au

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