CLB AND SCALARE SIGN SHARE SALE AND MERGER IMPLEMENTATION DEEDS

• CLB and Scalare have signed a Merger Implementation Deed and a Share Sale Agreement to facilitate the acquisition of the Scalare business

• As part of the transaction CLB proposes to change its name to Scalare Partners Holdings Limited, reflecting an existing strong market position and the brand equity of Scalare, subject to shareholder approval and completion of the transaction.

• On completion of the transaction and the proposed capital raising CLB is expected to have a market capitalisation of approximately $26.5 million (assuming maximum of $8million is raised).

About CLB

Confectionary retailing

Directors / Senior management

• Mr Gary Simonite, Director
• Mr Greg Starr, Director
• Mr James David Walker, Director

Secretaries

• Ms Catriona Glover, Company Secretary