Cipherpoint Limited (ASX:CPT), Sydney, Australia 22 January 2021 – Further to yesterday’s
announcement regarding the proposed acquisition of Brace168 Pty Ltd (Brace168), Cipherpoint
Limited [ASX:CPT) (the Company) is pleased to announce that it has entered into an Underwriting
Agreement with Viriathus Capital Pty Ltd AFSL:297950 pursuant to which Viriathus will
underwrite up to $1.5 million of the forthcoming entitlement issue. Viriathus’ underwriting
commitment will be relieved by valid applications under the entitlement issue, such that if
applications for $1.5 million or more are received there will be no underwriting obligation.
The underwriting ($1.5 million) in conjunction with the placement announced yesterday ($1 million)
will satisfy the minimum capital raising condition of $2 million applicable for the acquisition of
Brace168. An indicative timetable for the entitlement issue and transaction is set out below. It
should be noted however that the Company intends to proceed with the entitlement issue
regardless of the outcome of the shareholder meeting to be convened to approve the Brace168
acquisition.