Share placement of $500,000 to cornerstone investor 27th July 2016: Analytica Ltd (ASX: ALT), manufacturer of the PeriCoach® System, is pleased to announce the further placement of new fully paid ordinary shares to our American Virgin Islands cornerstone investor INOV8 LLC. Shares will be issued in 2 tranches at an issue price of $0.007 per share. The first tranche is for 35,714,285 shares with a settlement date of 31st August 2016. The second tranche is for 35,714,286 shares and settlement on the 30th September 2016. These allotments total $500,000. These funds, together with anticipated R & D tax incentive for 2016 and the expenditure reduction program, strengthens Analytica’s cash position. Analytica continues to execute its development strategy of: • Building best in class, • Gathering evidence to show the product works, • Proving market acceptance, and • Negotiating a partnership with a corporation with the resources to commercialise across the world. “INOV8 LLC increasing their investment expresses confidence in the potential of the PeriCoach system and our strategic development program” said Dr Monsour, Analytica Chairman. “This investment, building INOV8's holding to 12.2%, together with the strong support from major shareholder placements earlier this year adds to the stability of Analytica’s capital base.”
ALT Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
