Recce Pharmaceuticals Ltd (RCE) - $1.8m Share Placement

DJ Carmichael has acted as Lead Manager to RCE’s placement to raise $1.8 million

Recce Pharmaceuticals Ltd (ASX: RCE) (Recce or the Company), is pleased to announce that it has raised approximately A$1.8m (before costs) from sophisticated and institutional investors that will result in 12,857,143 fully paid ordinary shares being issued at A$0.14 per share (Placement).

DJ Carmichael has acted as Lead Manager to the placement.

The funds raised will be used to strengthen the Recce balance sheet as the Company advances its New Class of Broad Spectrum Antibiotic towards approval to start human clinical trials; having received Qualified Infectious Disease Product designation from the US Food and Drug Administration under the Generating Antibiotics Initiative Now (GAIN) Act. In addition, the funds will be used to further pre‐clinical programs, for general working capital and repayment of $200,000 loaned by the Directors.

Recce Pharmaceuticals Ltd has provided a short video to show the intended use and benefits of the Company’s product:

 

The information contained has been prepared by third parties. No warranty of accuracy or reliability is given in relation to any advice or information contained in this document and no responsibility for any loss or damage whatsoever arising in any way for any representation, act or omission, whether express or implied (including responsibility to any persons by reason of negligence), is given by DJ Carmichael Pty Limited or any officer, agent or employee of DJ Carmichael Pty Limited.