Australian life sciences, pharmaceutical and consumer health products Company, Bioxyne Limited (ASX Code: BXN) (“Bioxyne” or the “Company”) is pleased to advise that it has received firm commitments to raise $1.45 million.
The funds will be used to fund further growth in the business following the award of a Good Manufacturing Practice (“GMP”) license to manufacture medical cannabis and the recent grant to Breathe Life Sciences (BLS) of an upgraded and amended wholesale licence for MDMA and Psilocybin (schedule 8) finished products by the Therapeutic Goods Administration.
The Company will issue 145,000,000 new Shares at $0.01 per share under the Company’s Listing Rule 7.1A capacity. The price is an 11% premium to the last traded price and a 3% premium to the 15 day Volume Weighted Average Price.
Sam Watson, Bioxyne CEO commented, “we are delighted with the support of existing and new shareholders for this capital raise. In a short period following the grant of our manufacturing licence we have added approximately $8m in new business to the sales pipeline.
The upgraded licence for BLS is another significant milestone in the company’s mission to develop and promote access to psychedelic medicines in Australia and abroad, and the additional working capital will accelerate our growth in this endeavour.”
About us:
Bioxyne Limited (ASX:BXN) is an Australian-headquartered international consumer health and pharmaceutical company (incorporated in 2000) with a focus on clinically effective health and wellness products, psychotropic and investigational medicines.
Contact details:
Jane Morgan