Proteomics International Laboratories Limited announced a private placement of 9,410,000 common shares issued at a price of AUD 0.85 per share for gross proceeds of AUD 7,998,500 on August 15, 2022. The transaction will include participation from new and existing institutional investors including Australian investors. The transaction will occur in tranches.

The Tranche 1 of AUD 7,750,000 is expected to settle on or around August 19, 2022 and, subject to shareholder approval, while tranche 2 is expected to close on or around August 22, 2022 will participation from Neville Gardiner, Paul House and Roger Moore amounting to AUD 250,000.