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Powerhouse Announces Capital Raising by Means of an Accelerated Non-renounceable Entitlement Offer

Christchurch, New Zealand, 11 April 2018

Powerhouse Ventures Limited (Powerhouse) is pleased to announce an accelerated non-renounceable pro-rata entitlement offer (comprising both institutional and retail components) to raise up to a maximum of A$5.8 million (before costs) (Entitlement Offer).

The Entitlement Offer will involve the offer of up to approximately 29 million fully paid ordinary shares in Powerhouse (New Shares) on the basis of 1 new Share for every 1 Share held by eligible shareholders in Powerhouse on the applicable record date (Record Date) at a fixed issue price of A$0.20 per Share (Issue Price).

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