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Name | Symbol | Market | Type |
---|---|---|---|
Genetic Technologies Ltd | NASDAQ:GENE | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.43 | 2.31 | 2.69 | 0 | 09:00:00 |
Under the Facility, Kentgrove Capital may provide the Company with up to A$20 million of equity capital in a series of individual placements of up to $1 million (or a higher amount by mutual agreement) over the next 20 months. Proceeds from the Facility will be used for general working capital purposes and to fund the Company’s activities as it seeks to:
Drawdowns under the Facility occur based on terms set by the Company, including the timing, drawdown amount and minimum issue price.
Commenting on the Facility, Genetic Technologies’ Chairman, Dr Paul Kasian said: “We are delighted to have signed the A$20 million Facility with Kentgrove Capital. Subject to the terms outlined below, the Facility will assist the Company with its ongoing funding requirements as it seeks to develop a range of risk prediction tests that are designed to assist in the early detection of cancer and help physicians improve patient outcomes. Blockchain technology presents a unique opportunity for the Company to further contribute to the advancement of cancer research.”
Key terms of the Equity Placement Facility
Further details regarding the Facility will be provided in the prospectus required to be lodged by the Company in conjunction with the Facility
FOR FURTHER INFORMATION PLEASE CONTACT
Dr Paul KasianDirector & Interim CEOGenetic Technologies Limited+ 61 3 8412 7000 | Jason Wong (USA)Blueprint Life Science Group+1 (415) 375 3340, Ext. 4 | |
About Genetic Technologies Limited
Genetic Technologies is a diversified molecular diagnostics company embracing blockchain technologies across genomic testing platforms. GTG offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company’s lead product, BREVAGenplus®, is a clinically validated risk assessment test for non-hereditary breast cancer and is first in its class. For more information, please visit www.brevagenplus.com and www.phenogensciences.com.
Genetic Technologies is developing a pipeline of risk assessment products including a novel colorectal cancer (CRC) test. For more information, please visit www.gtgcorporate.com
About Kentgrove Capital
Kentgrove Capital is an Australian based investment management firm with an objective of generating strong returns for investors over the medium and long term. Kentgrove Capital invests in equities across all industries with a primary strategy to invest in companies they consider to be significantly undervalued and have high growth potential.
Safe Harbor Statement
Any statements in this press release that relate to the Company's expectations are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees. Since this information may involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Additional risks associated with Genetic Technologies' business can be found in its periodic filings with the SEC.
1 Year Genetic Technologies Chart |
1 Month Genetic Technologies Chart |
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