EMYRIA LIMITED — Capital/Financing Update 2020

Feb 9, 2020

ASX/Media Release

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6/02/2020

Pro Forma Statement of Financial Position

Perth, Australia; 6 February 2020: Emerald Clinics Limited (ASX:EMD or the Company) advises that the Company raised $6,000,000 under the Public Offer pursuant to the prospectus dated 11 December 2019 (Prospectus).

As set out in the Prospectus, based on raising $6,000,000 under the Public Offer, the pro forma Statement of Financial Position as at 30 June 2019 is set out below:

	CURRENT ASSETS Cash and cash equivalents Trade and other receivables Restricted cash TOTAL CURRENT ASSETS NON CURRENT ASSETS Property plant & equipment TOTAL NON CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other payables Provision for employee benefits TOTAL CURRENT LIABILITIES NON CURRENT LIABILITIES Convertible Notes TOTAL NON CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Contributed equity Reserves Accumulated losses TOTAL EQUITY	Proforma as at 30-Jun-19 $
		8,885,592 59,883 56,258
		9,001,733 749,953
		749,953
		9,751,686
		231,089 41,659
		272,748 -
		-
		272,748
		9,478,938
		13,004,088 156,050 (3,681,200)
		9,478,938

Notes:

1. The cash and cash equivalents balance above does not account for working capital movements over the period from 1 July 2019 until the date of Official Quotation. Operating costs subsequent to 30 June 2019 up to the date of the Prospectus were $1,451,430.

2. The pro forma Statement of Financial Position after the Public Offer is as per the statement of financial position before the Public Offer adjusted for any subsequent events and the

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transactions relating to the issue of Shares pursuant to this Prospectus.

1. The pro forma Statement of Financial Position is to be read in conjunction with the Independent Limited Assurance Report as set out in Appendix A of the Prospectus.

Simon Robertson

Company Secretary

About Emerald Clinics Limited

Emerald Clinics Limited (ACN 625 085 734) is an Australian incorporated company that operates a network of specialist medical clinics (Clinics) and uses purpose-built software and technology to gather high quality clinical data from informed and consenting patients.

Emerald is a clinical services and healthcare technology company focussed on the provision of care for patients clinically determined to have exhausted conventional therapies and who may be suitable for cannabinoid-based medicines. In addition, Emerald uses technology to capture clinical data that can be used to generate clinical evidence relating to the safety and efficacy of unregistered medicines.

Emerald has established four medical centres in Australia including one site each in West Leederville WA, Woolloomooloo NSW, Tintenbar NSW and Richmond VIC.

For more information, please contact:

General enquiries	Investor and Media enquiries
Emerald Clinics Limited	Matthew Wright
P: +61 8 6559 2800	NWR Communications
admin@emeraldclinics.com.au	matt@nwrcommunications.com.au

Cautionary Note on Forward-Looking Statements

Any statements in this press release about future expectations, plans and prospects for the Company, the company’s strategy, future operations, and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a results of various important factors, including: the Company’s ability to successfully develop its product candidates and timely complete its planned clinical programs and the Company’s ability to obtain marketing approvals for its product candidates. In addition, the forward-looking statements included in this press release represents the Company’s views as of the date hereof. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forwardlooking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.