BABYLON PUMP & POWER LIMITED — Capital/Financing Update 2017

May 9, 2017

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ASX Release

IM Medical Limited

Successful completion of $0.5m Entitlement Offer

Melbourne, 10 May 2017 : IM Medical Limited (ASX: IMI; IMIOA or the Company) is pleased to announce the successful completion of its underwritten 3 for 8 non-renounceable entitlement offer priced at $0.001 which closed on 5th May 2017.

The Entitlement Offer was open to eligible shareholders as of the record date, 11th April 2017. Applications for the Entitlement Offer totalled approximately $252,000 with the balance of the Entitlement Offer being placed by Patersons Securities Limited in accordance with the Underwriting Agreement to raise a total of $498,000.

Shareholders that applied shares in addition to their entitlement will be allocated their full application. All applicants will receive one free attaching Option for every Share issued (each with an exercise price of $0.002 and expiry date of 31 March 2019 – the same terms as the existing listed IMIOA options). The allotment of Shares and Options to be issued under the Entitlement Offer is scheduled for 12 May 2017.

The funds raised will be used to repay creditors, including outstanding Converting Notes and to provide working capital for the Company.

For further information, please contact the Company on (03) 9607-8280.

Richard Wadley Company Secretary

IM Medical Limited T 03 9607 8280 Level 40 F 03 9607 8285 140 William St. Melbourne VIC 3000 Aust E im.medical@icloud.com ACN 009 436 908 W immedical.com.au