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INOVIQ LTD — Capital/Financing Update 2017
Aug 3, 2017
65112_rns_2017-08-03_e7280841-8014-4314-92cd-fc3c38bca194.pdf
Capital/Financing Update
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BARD1 COMPLETES SHARE PURCHASE PLAN
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SPP raises $416,000
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New capital raised in both SPP and earlier Placement totals $1.513M
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Funds to be used to advance research and development programs, commercial initiatives and for general working capital purposes.
Perth, Australia, 4 August 2017: Australian biotechnology company BARD1 Life Sciences Limited (ASX:BD1) ( BARD1 LSL or the Company ) announced today that its Share Purchase Plan ( SPP ) previously announced on 11 July 2017, has closed raising a total of A$416,000, representing 52,000,000 new shares at an issue price of $0.008 per share.
The Company has instructed its share registry to arrange settlement and allotment of the new shares issued under the SPP. The new shares will commence trading on 11 August 2017.
The SPP followed a Placement to sophisticated investors which raised $1.097 million, resulting in total funds raised of $1.513 million, before costs.
The funds will be used to advance ongoing research and development programs, commercial initiatives and for general working capital purposes.
Peter Gunzburg, BARD1 Chairman, said: “The Board wishes to thank both existing shareholders who participated in the SPP and sophisticated investors who participated in the Placement for their support of the Company. BARD1 LSL is focused on advancing its R&D programs for its BARD1 diagnostic and therapeutic pipeline towards value-adding milestones.”
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FOR MORE INFORMATION PLEASE CONTACT:
Peter Gunzburg Dr Leearne Hinch Chairman CEO E [email protected] E [email protected] M +61 400 414 416
ABOUT BARD1 LIFE SCIENCES LTD (BARD1 LSL)
BARD1 Life Sciences Ltd (ASX:BD1) is an Australian biotechnology company focused on developing and commercialising non-invasive diagnostic tests for early detection of cancer. Its lead product, the BARD1 Lung Cancer Test, is a blood test in development for early detection of lung cancer, utilising novel tumour markers and a proprietary algorithm. The company’s pipeline also includes the BARD1 Ovarian Cancer Test in development for early detection of ovarian cancer, and high-value diagnostic and therapeutic projects at research-stage for multiple cancers. BARD1 LSL is committed to transforming the early detection and prevention of cancer to help improve patients' lives.
BARD1 Life Sciences Limited (ABN 58 009 070 384) Headquarters | Harry Perkins Institute, L2/QQ Block, 6 Verdun St, Nedlands WA 6009, Australia Registered Office | Suite B1, Tempo Building, 431 Roberts Road, Subiaco WA 6008, Australia P +618 9381 9550 | F +618 9388 7559 | E [email protected] | W www.bard1.com