WOA Secures Firm Commitments for Full $7M Placement

Wide Open Agriculture Limited (ASX: WOA, Frankfurt Stock Exchange: 2WO, "Wide Open Agriculture" or the "Company") is pleased to advise that, further to the announcement on 9 May 2024 and further to the completion of Tranche 1 of the Placement which raised $890,000, the Company has now secured binding firm commitments from institutional and sophisticated investors to raise a further $6.11 million (before costs) at an issue price of $0.02 per Share under Tranche 2 of the Placement. This brings the total raised under the Placement to $7 million, which means the Placement is fully subscribed.

Messrs. Anthony Maslin and Ben Cole subscribed for a total amount of $370,000 and $100,000, respectively. For every two (2) Tranche 2 Placement Shares subscribed, one (1) free-attaching Tranche 2 Placement Option will be issued with an exercise price of $0.03 each and an expiry date of 24 months from the date of issue. The issue of the Tranche 2 Placement Shares and Options will be subject to shareholder approval at a General Meeting now expected to be held in early July 2024, further information will be provided in the notice of meeting.

Priority Offer

The Priority Offer to Eligible Shareholders to raise up to $3m on the same terms as the Placement is currently open. The Priority Offer is expected to close on Wednesday 19 June 2024 and the issue of Shares and Options under the Priority Offer and Shortfall Offer will be subject to shareholder approval at the General Meeting.

For details in relation to the Placement and Priority Offer refer to the Company’s announcement

on 9 May 2024 and the Prospectus announced on 10 May 2024.

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