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ARCHER MATERIALS LIMITED — Capital/Financing Update 2024
Nov 26, 2024
64478_rns_2024-11-26_36e85e6a-0592-47b7-bc15-e4135c0d2403.pdf
Capital/Financing Update
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Archer Materials Limited (ACN: 123 993 233) Lot Fourteen, Frome Road, Adelaide SA 5000 www.archerx.com.au
Archer Materials Corporate
ASX Announcement (ASX: AXE )
27 November 2024
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Archer receives $2.1 million R&D Tax Incentive rebate
Archer Materials Limited (“Archer”, the “Company”, “ASX: AXE”), a semiconductor company advancing the quantum technology and medical diagnostics industries, is pleased to announce that it has received a A$2,189,556 cash rebate from the Australian Federal Government’s Research and Development Tax Incentive program in respect of eligible research and development (‘R&D’) expenditure for the for the year ended 30 June 2024 .
The cash rebate was provided in respect of eligible domestic and overseas R&D expenditure on the Company’s Quantum and Biosensor projects, both of which are covered by Advanced Overseas Findings previously approved by AusIndustry.
The receipt of the R&D tax incentive amount of $2.1 million, together with the $16 million cash in bank at 30 September 2024 reported by the Company (ASX announcement 4 October 2024) will allow Archer to progress development of its[12] CQ, Biosensor and TMR Sensor projects.
The Board of Archer authorised this announcement to be given to ASX.
| Investor enquiriesEric Kuret+61 417 311 335[email protected] | Media enquiriesDylan Mark+61 475 783 675[email protected] |
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About Archer
Archer is a technology company that operates within the semiconductor industry. The Company is developing advanced semiconductor devices, including chips relevant to quantum computing and medical diagnostics. Archer utilises its global partnerships to develop these technologies for potential deployment and use across multiple industries. www.archerx.com.au