LifeBrandz : Usage Of Net Proceeds From Rights Issues Cum Warrants

LIFEBRANDZ LTD

(Company Registration Number: 200311348E)

(Incorporated in Republic of Singapore)

USAGE OF NET PROCEEDS FROM RIGHTS ISSUES CUM WARRANTS

The Board of Directors of Lifebrandz Ltd (the "Company") refers to the announcement made on 24 January 2017 and 5 June 2017 in relation to the renounceable non-underwritten rights cum warrants issue, and listing and quotation of the 122,399,992 rights shares and warrants respectively, and on 16 June 2017 and 22 November 2017 pertaining to the usage of net proceeds, and wishes to provide further update on the usage of the net proceeds of S$2,930,000 as follows:

Intended use of net proceeds	Net proceeds from rights issues cum warrants S$'000	Amount utilised as per earlier announcements S$'000	Amount utilised as per this announcement S$'000	Balance S$'000
Business Acquisition	1,172	(850)	(45)	277
Working Capital	1,758	(1,281)	(377) *	100
Total	2,930	(2,131)	(422)	377

Note:

* The breakdown of the working capital utilised was as follows:

S$'000

Salaries & related expenses	267
Director fees	75
Operating expenses	35
_______________
Total	377
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The use of proceeds from the rights cum warrants issue is in accordance with the intended use.

The Board will continue to provide periodic announcements on the utilization of the balance of the net proceeds as and when the proceeds are materially disbursed.

By Order of the Board

Saito Hiroyuki

Executive Chairman/CEO

18 January 2018

This announcement has been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The details of the contact person for the Sponsor is: -

Name: Mr. Nathaniel C.V. (Registered Professional, RHT Capital Pte. Ltd.)

Address: 9 Raffles Place, #29-01 Republic Plaza Tower 1, Singapore 048619

Tel: [phone]