Australis Oil & Gas Limited (Australis or the Company) (ASX: ATS) is pleased to announce it has completed the placement of 150 million new ordinary fully paid shares at A$0.05 per share to raise approximately A$7.5 million (before costs) (Tranche 1) as announced on 1 March 2021.

The new shares issued under Tranche 1 will commence trading on 8 March 2021.

The placement of the remaining shares, being approximately 13.5 million shares to the Directors of Australis to raise A$0.675 million (Tranche 2), is subject to shareholder approval which will be sought at the Annual General Meeting in May 2021.

Euroz Hartleys Securities Limited acted as Sole Manager and Bookrunner to the Placement.

The Share Purchase Plan (SPP) as announced on 1 March 2021 is now open. The SPP Offer Document is attached and will be despatched to Eligible Shareholders today, together with a personalised application form.

Eligible Shareholders are advised that further details regarding the SPP, a copy of the SPP Offer Document and an online application facility can be accessed at: https://atsspp.thereachagency.com

The Company encourages Eligible Shareholders who wish to participate to act promptly in submitting their application forms. The SPP will close on 26 March 2021 although the Directors reserve the right to close the offer early or extend the closing date.

Net proceeds from the Placement and SPP will be used to: recommence leasing of TMS Core Area mineral rights and general working capital purposes, including but not limited to, balance sheet support to: aid any negotiations with potential partners; provide additional capacity to accelerate existing debt repayments, if desirable to do so at the relevant time (there is no obligation nor any intention to accelerate existing debt repayments) and pay the costs of the offer.

Contact:

Ian Lusted

Tel: +61 8 9220 8700

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