88 Energy : Cleansing Notice

17 August 2020

Cleansing Notice

The Directors of the Company provide a notice for the purposes of section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act).

The Company has today issued:

1. 25,437,763 fully paid ordinary shares (Shares) in lieu of cash fees for services provided as part of the off-market takeover of XCD Energy Limited at a deemed issue price of A$0.0059 per Share; and
2. 15,000,000 Shares in lieu of cash fees for digital marketing services provided at a deemed issue price of A$0.005 per Share.

The Shares were issued under the Company's 15% Placement Capacity under Listing Rule 7.1. The Shares are part of a class of securities quoted on ASX and may be subject to a subsequent offer for sale.

The Company issued the above Shares without a disclosure document under Part 6D.2 of the Corporations Act.

The Company, as at the date of this notice, has complied with:

1. the provisions of Chapter 2M of the Corporations Act; and
2. section 674 of the Corporations Act.

As at the date of this notice, there is no excluded information, as defined in sections 708A(7) and 708A(8) of the Corporations Act, that is reasonable for investors and their professional advisers to expect to find in a disclosure document. An Appendix 2A in respect of the above securities was released on 17 August 2020.

Yours faithfully

Dave Wall

Managing Director

88 Energy Ltd