RHS COMPLETES PLACEMENT TO RAISE $1.5M Adelaide, 5 June 2017: RHS Limited (ASX: RHS) (“RHS” or “the Company”) is pleased to announce that it has completed a placement of 10,714,285 shares to sophisticated investors at $0.14 per share through Taylor Collison Limited as lead broker. The capital raising of $1.5M will assist expansion of marketing and business development activities, particularly collaborations for commercial opportunities for DOPlifyTM including in liquid biopsy and non-invasive PGS. The $0.14 share price for the placement is an approximate 8.1% discount to the VWAP of the last 15 days on which trades occurred. CEO Dr Michelle Fraser commented “After a concerted and focussed effort on product development, RHS has entered into an exciting time of growth and opportunity. Our repositioning as a single cell molecular tools company has been reinforced by the recent change to the Company’s name. This new investment provides opportunity to advance key areas of our business that will form the basis for increasing revenues, through both sales of kits and services as well as through furthering commercial relationships”. The placement will utilise available capacity of the Company's issued capital prior to the placement pursuant to ASX Listing Rule 7.1A, and ASX Listing Rule 7.1. Following the issue and allotment of these shares, RHS will have 89.9M shares on issue.
RHS Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
