Delay to Reactor Fabrication - 15 December 2021

• Anticipated as a 8-12 week delay to the commissioning of the Hazer Commercial Demonstration Project due to "manufacturing flaws"
• Additional costs associated to this not disclosed in this announcement.
• Rectification plan still being determined.
• Target date of 1Q 2022 not expected to be met.

Cue deeply disappointed investors putting a damper on the share price. This just highlights that this is still a highly speculative stock despite being 'close' to having a working prototype. I'm looking to dip my toes in a for a punt sub $1.

Disclosure: Previously held.

Placement Details:

• HZR has received binding commitments from institutional and sophisticated investors to
  successfully raise gross proceeds of $7,000,000.32
• 7,608,696 new fully paid ordinary shares at an issue price of $0.92 to
  raise $7,000,000.32 (before costs).

Share Purchase Plan Details:

• The SPP entitles Eligible Shareholders, irrespective of the size of their shareholding, to purchase up to $30,000 worth of SPP Shares at an issue price of $0.92 per SPP Share

Dilution alert. The share price has traded between $0.94 - $1.00. HZR is probably one of the promsing hydrogen ASX stocks with a work in progress Hazer Commercial Demonstration Project (CDP), albeit with a few delays since its planned inception. As a working infrastructure is yet to be proven or commercialised, I am a watcher of this stock for now and won't participate.

Disc: Previous shareholder