INOVIQ LTD — Capital/Financing Update 2019

Jul 11, 2019

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BARD1 COMPLETES $7.5 MILLION CAPITAL RAISING PACKAGE

Perth, Australia, 12 July 2019: BARD1 Life Sciences Limited (ASX:BD1) ( BARD1 or the Company ), a medtech company developing non-invasive cancer diagnostics, is pleased to announce the successful completion of the entire $7.5 million capital raising package as announced on 18 June 2019.

BARD1 Chief Executive Officer, Dr Leearne Hinch, said that completing the announced $7.5 million funding package together with its strengthened Board, positions the Company to execute on its growth strategy with a cash at bank of $10.146 million as at 12/7/19.

“We now have a significantly enhanced funding capacity at BARD1, alongside a renewed board and strong strategic shareholder base, giving us the financial firepower, shareholder support, and Board expertise to assist in delivering our clear vision of building a leading Australian cancer diagnostics company. I’d like to thank all new and existing investors who supported the funding package,” Dr Hinch said.

Completion of the package comes from the issue of a total of 124,289,854 New Shares at a price of $0.02 under the Company’s non-renounceable Entitlement Issue announced on 18 June 2019. This figure is made up of:

• 65,927,194 New Shares issued to Shareholders who participated in the Entitlement Offer;

• 10,000,000 New Shares issued pursuant to Underwriting Agreements entered into with companies controlled by Non-Executive Directors Max Johnston and Philip Powell; and

• 48,362,660 remaining Shortfall Shares issued to investors introduced by the Company’s Lead Manager, Merchant Corporate Advisory Pty Ltd.

The Entitlement Issue raised a total of $2.485 million before costs and comes on top of the completed private Placement of approximately $5 million (also at $0.02 per share) to key strategic investors including The Merchant Opportunities Fund, Mr David Williams and Mr Jeff Emmanuel.

Max Johnston and Philip Powell, both highly successful Health Care industry directors, were also previously appointed to strengthen the Board, to help guide the growth strategy, planned expansion of the management team, relocation to the east coast of Australia and commercialisation going forward.

All shares issued under the Entitlement Issue will rank equally in all respects with the existing fully paid ordinary shares of the Company. The Company now has 1,367,185,026 Shares on issue. An Appendix 3B Application for Quotation and Cleansing Notice under section 708A(5)(e) have been released to the market.

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COMPANY CONTACTS:

Dr Leearne Hinch Peter Gunzburg Shane Murphy CEO Chairman Investors / Media E leearne@bard1.com E peter@bard1.com FTI Consulting M +61 400 414 416 E shane.murphy@fticonsulting.com M +61 420 945 291

ABOUT BARD1 LIFE SCIENCES LTD

BARD1 Life Sciences Ltd (ASX:BD1) is an Australian medical technology company focused on developing and commercialising non-invasive diagnostic tests for early detection of cancer. BARD1 owns a proprietary tumour marker platform with potential diagnostic and therapeutic applications across multiple cancers. The pipeline includes BARD1 autoantibody tests in development for early detection of breast, ovarian and lung cancers. BARD1’s mission is to detect cancer earlier and save lives. For more information on BARD1, see www.bard1.com.

BARD1 Life Sciences Limited (ABN 58 009 070 384) Registered Office | Suite B1, Tempo Building, 431 Roberts Road, Subiaco WA 6008, Australia P +61 8 9381 9550 | F +61 8 9388 7559 | E info@bard1.com | W www.bard1.com

BARD1 | ASX Release

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FORWARD LOOKING STATEMENTS

This announcement contains certain ‘forward-looking statements’ within the meaning of the securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forwardlooking words such as ‘may,’ ‘should,’ ‘expect,’ ‘anticipate,’ ‘estimate,’ ‘scheduled’ or ‘continue’ or the negative version of them or comparable terminology. Any forecasts or other forward looking statements contained in this announcement are subject to known and unknown risks and uncertainties and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material. The Company does not give any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur and you are cautioned not to place undue reliance on forward-looking statements.

BARD1 LSL | ASX Release