INTELICARE HOLDINGS LIMITED — Capital/Financing Update 2021

Apr 28, 2021

29[th] April 2021

InteliCare Secures $2.5M to Fund Commercialisation Strategy

InteliCare Holdings Ltd

• InteliCare receives firm commitments to raise $2.5M at an issue price of $0.26 per share

• Strongly supported placement to both new and existing sophisticated/institutional investors

ASX Code

• All Directors have participated in the Placement, subject to Shareholder Approval to be obtained at a General Meeting

Managing Director

Non-Exec Chairman

• The placement positions InteliCare with a strong cash balance of c.$4.3M¹ to further expand national sales strategies including recent TV, social, digital and radio consumer campaigns

InteliCare Holdings Ltd (“ InteliCare ” or the “ Company ”) (ASX: ICR) , is pleased to announce it has received binding commitments for $2.5 million via a 2-tranche placement of 9,615,385 New Shares at AU$0.26 per share ( the Placement ). As part of the Placement, the Company also offered investors one (1) free option to acquire a Share (exercise price AU$0.50; expiry date 3 years) for every two (2) Shares subscribed ( Options ). The issue of the options is subject to shareholder approval.

The placement saw strong interest and commitments from existing sophisticated shareholders, directors, and several new institutional and sophisticated investors.

JP Equity Partners acted as Lead Manager to the strongly subscribed Placement.

Issued Shares

Unlisted Options

Email

Website

Registered & Principal Office

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Due to strong participation and the issuing of attaching options, the placement will be by way of a two-tranche sophisticated investor capital raising comprising of:

• Tranche 1 – An initial placement to raise $2,500,000 ( Tranche 1 ) utilising 9,615,385 of the Company’s existing 15% (LR 7.1) placement capacity; and

• Trance 2 – Subject to shareholder approval, comprising; the issuing of 4,948,077 free attaching options; and the issuing of 280,769 Directors shares.

The Placement was conducted at $0.26 per New Share. Settlement of New Shares (Tranche 1) is expected to occur on the 5[th] of May, 2021.

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¹ Comprises $2.5M proceeds from the Placement (before costs) and quarterly cash balance as at 31 March 2021

Commenting on the success of the capital raising, CEO and Managing Director of InteliCare, Jason Waller noted; “ The Company is encouraged by the strong demand from new and existing sophisticated and institutional investors, demonstrating the market’s belief in InteliCare’s journey to date and the exciting new phase in our commercialisation. This raising along with existing cash reserves, place the Company in a solid position to expand national consumer campaigns and commercial sales teams. We are positioning to capture the growing tailwinds arising from the Aged Care Royal Commission and expected flow-on to federal budgets. This is a pivotal time in Australia’s aged/disability care evolution. "

The Placement funds of $2.5 million in conjunction with existing cash reserves will enable InteliCare to fund:

• Additional national marketing campaigns through TV, social, digital and radio platforms;

• Expansion to a National Sales Team and implementation of newly outlined sales strategies;

• General working capital requirements and the expenses of the Placement

This Announcement is Designed to Lift the existing Trading Halt in the Company’s Securities.

Contact and Authorised for Release to the ASX

Jason Waller, Chief Executive Officer and Managing Director, InteliCare Holdings Ltd, +61 1300 001 145 , investors@intelicare.com.au

About Intelicare Holdings Limited

InteliCare is an Australian technology company that has commercialised a predictive analytics hardware and software system for use in the aged care and health industries. InteliCare believes Australians deserve to age with dignity and through its business-to-business (B2B) and business-to-consumer (B2C) solutions built on its proprietary internet of things (IOT) platform utilising smart sensors and artificial intelligence (AI), InteliCare aims to enable people to stay in their own homes for longer while empowering healthcare providers to deliver higher quality, more efficient services.

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Intelicare Holdings Ltd ABN: 84 622 484 397 T: 1300 001 145 A: 299 Vincent St, Leederville, WA 6007