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GENETIC TECHNOLOGIES LIMITED — Capital/Financing Update 2020
May 28, 2020
65022_rns_2020-05-28_9fef3d9b-266d-4a77-9cf3-3769761dad91.pdf
Capital/Financing Update
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ASX Market Announcement
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Genetic Technologies Announces Closing of US$8 Million Capital Raising
MELBOURNE, AUSTRALIA, May 29, 2020 Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) (the “Company”), a leader in the development of genetic risk assessment tests, today announced the closing of its previously announced capital raising of 4,000,000 American Depositary Shares (“ADSs”), each representing six hundred (600) of the Company’s ordinary shares, at a purchase price of $2.00 per ADS for gross proceeds of approximately US$8 million.
H.C. Wainwright & Co. acted as the exclusive placement agent for the capital raising.
The Company intends to use the net proceeds from this offering to support the introduction and distribution of our new products in the United States, for implementation of our consumer-initiated testing platform, preparation for potential COVID-19 testing should it be required by Government agencies to assist with test demand and working capital.
Dr George Muchnicki Acting CEO and Justyn Stedwell Company Secretary On behalf of the Board of Directors Genetic Technologies Limited +61 3 9412 7000
Investor Relations and Media (US)
Dave Gentry, CEO RedChip Companies Office: 1 800 RED CHIP (733 2447) Cell: US 407 491 4498 [email protected]
Australia
Trevor Chappell WE Communications Email: [email protected] T: +61 407 933 43
Genetic Technologies Limited www.gtglabs.com [email protected] ABN 17 009 212 328
60-66 Hanover Street Fitzroy Victoria 3065 Australia +61 3 8412 7000
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About Genetic Technologies Limited
Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. GTG offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company’s lead products GeneType for Breast Cancer for non-hereditary breast cancer and GeneType for Colorectal Cancer are clinically validated risk assessment tests and are first in class.
Genetic Technologies has capacity for COVID-19 testing and is developing a pipeline of risk assessment products.
For more information, please visit www.gtglabs.com.
60-66 Hanover Street Fitzroy Victoria 3065 Australia +61 3 8412 7000
Genetic Technologies Limited www.gtglabs.com [email protected] ABN 17 009 212 328