Placing to Raise US$2,000,000

Argent Biopharma Limited

16 July 2024

 

16 July 2024

Argent BioPharma Ltd.

(Argent BioPharma or the Company)

Placing to Raise US$2,000,000

Argent BioPharma, an innovative multidisciplinary drug development company within the biopharmaceutical sector, announces that following its raise earlier in the month, the Company has raised an additional US$2,000,000 (Placement) through the issue of 2,500,000 fully paid ordinary shares at US$0.80 (~A$1.20) per share (Placement Shares). The placement participants will also be issued one (1) free attaching warrant for every two (2) Placement Shares subscribed for (Warrants). The Warrants will be exercisable at US$1.20 (~A$1.80) each, expiring 3 years from the issue date.

Proceeds from the Placement will support the continuation of the Company's drug development pipeline, including CannEpil® and CimetrA® in the US and EU markets.

The Placement Shares and Warrants are to be issued under the Company's existing Placement capacity in accordance with ASX listing Rule 7.1 and 7.1A as followed: LR7.1 - 1,250,000 Warrants, LR7.1A - 2,500,000 Placement Shares. The issue price of US$0.80 (~A$1.20) per Placement share under the Placement represents approximately a 397% premium to the 15-day VWAP of A$0.302 prior to the stock being placed in a Trading Halt on 12 July 2024.

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Authorised for release by the board of directors, for further information please contact:

Argent BioPharma Roby Zomer CEO & Managing Director [phone] [e-mail]	Argent BioPharma Rowan Harland Company Secretary [phone] [e-mail]
UK Corporate Broker Shore Capital Toby Gibbs / James Thomas / Lucy Bowden [phone]

About Argent BioPharma

Argent BioPharma Limited (the "Company") (ASX: RGT; LSE: RGT; OTCQB: RGTLF) an innovative multidisciplinary drug development Company within the biopharmaceutical sector.  The Company focuses on multidisciplinary methods with Nanotechnology, developing multi-target therapies for comprehensive disease management, especially concerning the Central nervous system ("CNS") and Immunology treatments.

Follow us through our social media channels:

LinkedIn: Argent BioPharma

Twitter: @ArgentBioPharma

Facebook: Argent BioPharma

Total voting rights

On issue of the Fundraising Shares, the Company will have 48,405,202 Ordinary Shares in issue, each with one voting right. Therefore, the Company's total number of Ordinary Shares in issue and voting rights will be 48,405,202 and this figure may be used by shareholders from issue of the Placing Shares as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

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