re: pre-open placement EpiTan Limited (ASX: EPT, ADR: EPTNY) today announced that it has raised A$2.08 million
from an existing European-based investor.
The capital was raised via a private placement of 2,600,000 fully paid ordinary shares at
A$0.80. EpiTan Limited also issued 2,600,000 unlisted options exercisable over three years
at A$1.08 which, on exercise, would result in a further cash injection of A$2.81 million.
The funds raised add to EpiTan’s solid cash position with reserves now in excess of $11
million. The funds will be applied to the Melanotan ® project and the development of EpiTan’s
pharmaceutical products business.
pre-open, page-2
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