PAA 0.00% 20.0¢ pharmaust limited

Ann: Non-Renounceable Rights Offer, page-2

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    PRO-RATA NON-RENOUNCEABLE RIGHTS OFFER

    As announced on 18 February 2019, PharmAust Limited ("Company") is seeking to raise up to approximately $2,003,007 by a pro-rata non-renounceable rights offer ("Offer") of up to approximately 80,120,266 shares on the basis of 2 new shares ("New Share") for every 5 shares held at an issue price of 2.5 cents per New Share.

    The Company expects to lodge an offer document for the Offer ("Offer Document") with the ASX on 26 February 2019. At minimum subscription, the funds raised under the Offer will be used primarily to complete expenditures relevant to Phase I and Phase II canine trials using monepantel, as well as to meet Offer expenses.

    As funds are raised beyond minimum subscription the items of expenditure include progress towards a human clinical trial. The Offer is not underwritten. Minimum subscription under the Offer is $500,000.
 
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