Fitzroy River Corporation Limited (ASX: FZR) (Fitzroy or the Company) refers to its ASX release of 17 February 2021 announcing the accelerated 1 for 4 non-renounceable entitlement offer of new ordinary shares in the Company (New Shares) at $0.12 per New Share (Entitlement Offer).

Fitzroy is pleased to announce that it has successfully completed the institutional component (Institutional Component) of the Entitlement Offer.

Pursuant to the Institutional Component, a total of 9,127,866 New Shares will be issued to institutional shareholders, raising $1,095,343 before costs. The amount to be raised under the retail component of the Entitlement Offer will be $1,495,558 (12,462,984 New Shares) before costs, bringing the total amount raised under the Entitlement Offer to approximately $2.6 million before costs.

As announced on 17 February 2021, eligible shareholders under the retail component will be sent a short form offer document and a personalised Entitlement and Acceptance Form on or about 24 February 2021.

Please refer to the attached offer document for further details in relation to the Entitlement Offer. This announcement was authorised by the Board of Fitzroy River Corporation Limited.

Contact:

Justin Clyne

Tel: +61 2 9048 8856

Email: jclyne@clynecorporate.com.au

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