INOVIQ LTD — Capital/Financing Update 2017

Jul 10, 2017

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COMPLETION OF CAPITAL RAISING

Perth, Australia, 11 July 2017: Australian biotechnology company BARD1 Life Sciences Limited (ASX:BD1) ( BARD1 LSL or the Company ) is pleased to announce that further to the ASX announcement on 5 April 2017, it has today issued a total of 137,165,811 shares at an issue price of A$0.008 raising approximately A$1.097 million (before costs) (“ Placement ”).

BARD1 provides the following information pursuant to Listing Rule 3.10.5A:

• 55,199,658 shares have been issued pursuant to BARD1’s Listing Rule 7.1A capacity (“7.1A Placement”). The shares issued pursuant to the 7.1A Placement represent 8.0% of the post Placement capital in the Company. Pre- Placement shareholders overall interests will therefore be diluted by 8.0% following the 7.1A Placement (however some existing shareholders have participated in the Placement so their particular interests may have increased or been diluted to a lesser extent).

• The remainder of 81,966,153 shares in the Placement have been issued pursuant to BARD1’s Listing Rule 7.1 capacity (“7.1 Placement”). These shares represent 11.9% of the post Placement capital in the Company. Pre- Placement shareholders overall interests will therefore be diluted by 11.9% following the 7.1 Placement (however some existing shareholders have participated in the Placement so their particular interests may have increased or been diluted to a lesser extent).

The following table provides details of participation by existing shareholders and new investors who participated in the component of the Placement issued under the Company’s ASX Listing Rule 7.1A capacity:

ated in the component of the Placement issued undery:	the Compan
	%
Shares held by pre-Placement shareholders who didnot participate in the ASX Listing Rule 7.1A componentof the Placement	89.88
Shares held by pre-Placement shareholders who didparticipate in the ASX Listing Rule 7.1A component ofthe Placement	0
Shares held by new shareholders who participated inthe ASX Listing Rule 7.1A component of the Placement	8
Shares held by new shareholders who participated inthe ASX Listing Rule 7.1 component of the Placementbut did not participate in the ASX Listing Rule 7.1Acomponent of the Placement	2.12

BARD1 issued the Shares by way of the 7.1A Placement and not by way of a pro-rata offer as it considered that this was the most appropriate way of raising funds in the circumstances, providing certainty for the Company going forward.

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 info@bard1.com | W www.bard1.com

BARD1 | ASX Release

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The Placement was not underwritten. The Company will pay a 6% capital raising fee on the funds raised under the Placement. BARD1 has also incurred miscellaneous expenses including legal, listing and other advisory fees in connection with the Placement.

An Appendix 3B applying for quotation of the shares has been lodged together with a cleansing notice in respect of the Placement shares pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act).

As advised in the 5 July 2017 announcement the Company is conducting a Share Purchase Plan for eligible shareholders to raise up to a further $1 million ( SPP ).

The SPP will enable existing eligible shareholders to participate in the capital raising by applying for up to $15,000 worth of shares at the same issue price as the Placement and without incurring any brokerage fees or other transaction costs. The issue price of $0.008 per share represents a 19.1% discount to the 5 day VWAP of $0.009894 per share up to 30 June 2017, being the last trading day prior to the Company’s announcement of the SPP. The SPP Offer document was lodged on ASX on 11 July 2017.

Funds raised from the Placement and SPP will be used to fund ongoing research and development programs, commercial initiatives and for general working capital purposes.

• ENDS -

FOR MORE INFORMATION PLEASE CONTACT:

Peter Gunzburg	Dr Leearne Hinch
Chairman	CEO
E peter@bard1.com	E leearne@bard1.com
	M+61 400 414 416

BARD1 LSL | ASX Release