Melbourne, 23 October 2013: Australian drug development and pharmaceutical company Imugene (ASX.IMU) advises that it has completed a A$2.5 million capital raise via the placement of 250 million shares at $0.01 per share to sophisticated investor clients of Forrest Capital to raise A$2.5 million before costs. Proceeds of the placement will be applied towards the Biolife acquisition, the existing business of the Company and general working capital.
85 million shares of the placement will be issued immediately using the Company’s share issue capacity under ASX Listing Rule 7.1 and 7.1A, with the balance subject to shareholder approval.
In addition, and subject to shareholder approval, Executive Director, Dr. Nick Ede will personally invest $100,000 by subscribing for 10,000,000 Imugene shares at $0.01 per share. Shareholder approval will be sought prior to the issue of shares to Dr. Ede in accordance with ASX Listing 10.11.
A Notice of Meeting will be sent to shareholders as soon as possible.
Contact :
Dr Nick Ede
Executive Director, Imugene
Tel: +61 400 642 254
Email: nede[at]imugene.com
Media contact:
Dr Douglas Pretsell
College Hill
Tel: +61 3 9657 0706
Email: douglas.pretsell[at]collegehill.com
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