Had a 30 min conversation with Joel – Given we are in a trading...

Had a 30 min conversation with Joel – Given we are in a trading halt and no shares will be traded until an announcement is delivered to market, he was able to talk freely.

I can tell you:

• This is significant inbound interest – meaning Incannex have been approached & it came out of the blue.
• A small placement will be given, but the investor wanted a lot more.
• A lot of due diligence was completed by the investor.
• The big win here is adding an inbound institutional investor to the register that wants more and will support the business going forward.
• Would not have even considered it, if he didn’t think it would have a longer-term benefit to the register & business.
• No decisions will ever be made that are not in the best interest of the business & growing it’s value. Management are shareholders and want us all to be proud & $$$rewarded$$$ from where we are going.

Other items.

• Business is 100% on track.
• Apnimed – Joel keeps an eye on all “potential” competition & is very very comfortable with our position and drug combination compared to Apnimed’s. Also read MickeyMantle536’s post – Spot on.
• Clinical trials – all on track and very happy with how they are progressing.
• Still has the aim of getting the SP as high as possible and hasn’t given up on the $1 Piggy Back Options.
• Joel loved the Perth AGM and catch up – had a chance to speak with a lot of people he had never met.