SYDNEY, Wednesday, 13 March 2013: Cellmid Limited (ASX:CDY) is pleased to advise that it has successfully completed the placement of 50M ordinary Shares at an issue price of 4 cents per share ($0.04), and 30M options raising a total of $2,030,000 before costs. The Placement was made pursuant to section 708 of the Corporations Act and was oversubscribed.
The issue price for the Shares is at the five day average volume weighted trading price (VWAP) of the Company’s Shares immediately prior to the Placement and a premium to the 21 day traded VWAP. The Placement is not subject to Shareholders’ approval.
The Options are unlisted and will be issued on the following terms:
- Option Issue Price: $0.001
- Exercise Price: $0.05
- Option Expiry Date: 19th March 2014
Cellmid will use the money raised to strengthen marketing of its Évolis hair growth products in Australia and overseas. In addition, funds will also be deployed to continue the Company’s diagnostic and therapeutic antibody product development programs.
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