New Equity Secured

NZX Release 16 December 2020 New Equity Secured Promisia Integrative Limited (NZX: PIL) (PIL) wishes to advise the market that it has secured $1.05 million of new equity commitments. $750,000 of new shares are being issued today at an issue price of $0.001 per share to several wholesale investors. At the special meeting of shareholders held on 11 June 2020, shareholders approved the issue of up to $8 million shares at $0.001 per share and this issuance is made under that approval. A capital change notice detailing this issue of shares accompanies this announcement. PIL has also secured a conditional equity commitment for $300,000 of new shares at an issue price of $0.001 per share to associated persons of PIL's executive director and majority shareholder, Thomas Brankin. The Board of PIL intends to call a special meeting of shareholders early in 2021 to approve this issuance. At that meeting PIL also intends to put to shareholders further resolutions to position the PIL balance sheet for future growth: o While changing the business focus of PIL to become an aged care operator, directors' fees have accrued but have not been paid to directors. The directors wish to support PIL and have agreed, subject to shareholder approval to capitalise a proportion of the directors' fees owing to them by subscribing for new shares in PIL at $0.001 per share. o As advised to the market on 2 November 2020, Thomas Brankin (through the Brankin Family Interest Trust) is owed $1,557,683.10 by PIL and, subject to shareholder approval, has agreed to convert this loan to shares at an issue price of $0.001 per share. A notice of meeting will be prepared and sent to shareholders in January detailing the resolutions for consideration by shareholders. The Board is committed to giving all shareholders the opportunity to subscribe for new shares in PIL at $0.001 per share and intends to proceed with the previously advised share purchase plan in February 2021. ENDS For further information please contact Mr Stephen Underwood, Chairman on 027 499 3387. End CA:00365174 For:PIL Type:SECISSUE Time:2020-12-16 17:21:59