REG - Argent Biopharma Ltd - Placing to Raise US$500,000

Argent BioPharmaAnnouncement

01/07/2024 07:00

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RNS Number : 5462U  Argent Biopharma Limited  01 July 2024

 

1 July 2024

 

Argent BioPharma Ltd.

(Argent BioPharma or the Company)

 

Placing to Raise US$500,000

 

Argent BioPharma, an innovative multidisciplinary drug discovery company
within the biopharmaceutical sector, is pleased to announce it has received
firm commitments from a professional investor to raise US$500,000 (Placement)
through the issue of 625,000 fully paid ordinary shares at US$0.80 (~A$1.20)
per share (Placement Shares). The placement participant, an unrelated party to
the Company, will also be issued one (1) free attaching warrant for every two
(2) Placement Shares subscribed for (Warrants). The Warrants will be
exercisable at US$1.20 (~A$1.80) each, expiring 3 years from the issue date.

 

Proceeds from the Placement will be used to continue the Company's drug
development pipeline, including CannEpil® and CimetrA®.

 

The Placement Shares and Warrants are to be issued under the Company's
existing Placement capacity in accordance with ASX listing Rule 7.1 and 7.1A
as followed: LR7.1 - 312,500 Warrants, LR7.1A - 625,000 Placement Shares.

The issue price of US$0.80 (~A$1.20) per Placement share under the Placement
represents approximately a 400% premium to the 15-day VWAP of A$0.30 prior to
the stock being placed in a Trading Halt on 28 June 2024.

 

Argent BioPharma's Chief Executive Officer and Managing Director, Roby Zomer,
commented: "We are delighted by the strong support from our newest investor,
as reflected in the substantial premium to the current trading price. This
raise will allow the Company to continue the development of our key drug
candidates, CannEpil® and CimetrA®. Our new investor's confidence
underscores our pipeline's potential and our commitment to advancing
innovative treatments for unmet medical needs, in the biopharmaceutical
space."

 

Total voting rights

On issue of the Fundraising Shares, the Company will have 45,905,202 Ordinary
Shares in issue, each with one voting right. Therefore, the Company's total
number of Ordinary Shares in issue and voting rights will be 45,905,202 and
this figure may be used by shareholders from issue of the Placing Shares as
the denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

 

-Ends-

 

 

 

 

 

 

 

Authorised for release by the board of directors, for further information
please contact:

 

 Argent BioPharma                                             Argent BioPharma

 Roby Zomer                                                   Rowan Harland

 CEO & Managing Director                                      Company Secretary

 +61 8 6555 2950                                              +61 8 6555 2950

 info@argentbiopharma.com (mailto:info@argentbiopharma.com)   info@argentbiopharma.co (mailto:info@argentbiopharma.co.uk) m

 UK IR/PR Advisers                                            UK Corporate Broker

 IFC Advisory                                                 Shore Capital

 Graham Herring / Tim Metcalfe / Zach Cohen                   Toby Gibbs / James Thomas / Lucy Bowden

 +44 203 934 6630                                             +44 (0)207 408 4090

 argentbiopharma@investor-focus.co.uk
 (mailto:argentbiopharma@investor-focus.co.uk)

 

About Argent BioPharma

 

Argent BioPharma Limited (the "Company") (ASX: RGT; LSE: RGT; OTCQB: RGTLF) is
a Clinical-Stage, Revenue Generating Biopharmaceutical Company committed to
providing accessible medical treatments for unmet medical needs, to bridge the
gap where medical solutions currently fall short.  The Group focuses on the
Multidisciplinary method with Nanotechnology, developing multi-target
therapies for comprehensive disease management, especially concerning the
Central nervous system ("CNS") and Immunology treatments.

 

Follow us through our social media channels:

LinkedIn: Argent BioPharma

Twitter: @ArgentBioPharma

Facebook: Argent BioPharma

 

 

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