Bluechiip Limited Stock Market Press Releases and Company Profile
Raises $1.95M in Share Purchase Plan
Raises $1.95M in Share Purchase Plan

Melbourne, Oct 3, 2018 AEST (ABN Newswire) - Bluechiip Limited (Bluechiip or the Company) (googlechartASX:BCT), a leader in the development of sample-tracking technology for harsh environments, is pleased to report the Share Purchase Plan (SPP) announced on 10 September 2018, closed on Friday 28 September 2018 and raised approximately $1.95 million.

The result of the SPP demonstrated strong interest from Bluechiip's existing shareholders and, together with the proceeds of the Placement completed on 14 September 2018, has raised a total of approximately $7.5 million before costs.

The issue price under the SPP is $0.059 per new share and Bluechiip will therefore issue 33,091,519 new ordinary shares to successful applicants. The shares issued under the SPP will rank equally with the Company's existing ordinary shares on issue. The shares to be issued as a result of the SPP are expected to be allotted on 4 October 2018. Quotation of the new shares is expected to occur on 5 October 2018.

Andrew McLellan, Bluechiip Managing Director & CEO, said, "The directors are delighted with the strong response from our loyal shareholders through their participation in the SPP. In conjunction with the Company's recent oversubscribed placement, Bluechiip has raised approximately $7.5 million and is now well funded to finalise its product portfolio, fully support our OEM partners' product release and to accelerate the opportunities and discussions we currently have in place."


About Bluechiip Limited

Bluechiip Ltd ASX BCTBluechiip Ltd (ASX:BCT) understands that every sample - stem cells, blood, eggs, sperm and other biospecimens - is critical, so our objective is to manage each one with optimal quality in the most efficient way. Bluechiip's advanced management solution is the only one that provides sample temperature with ID in cryogenic environments to. Most importantly, this delivers confidence in every sample.

Bluechiip's unique patented technology is a MEMS-based wireless tracking solution that contains no electronics. It represents a generational change from current tracking methods such as labels (hand-written and pre-printed), barcodes (linear and 2D), and Radio Frequency Identification. Bluechiip tags are either embedded or manufactured into storage products such as vials or bags. Each product can be easily identified, and critical information such as sample temperature, is detected by readers and stored in the Bluechiip software. In addition to functioning in extreme temperatures, the Bluechiip(R) Advanced Sample management solution can survive autoclaving, gamma irradiation sterilization, humidification, centrifuging, cryogenic storage and frosting.

Bluechiip's technology has applications in healthcare, including in cryogenic storage facilities (biobanks and biorepositories), pathology, clinical trials and forensics. Other key markets include cold-chain logistics/supply chain, security/defence, industrial/manufacturing and aerospace/aviation.

Bluechiip: Delivering confidence in every sample.

 

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Contact

Corporate enquiries
Andrew McLellan
Managing Director - CEO
Ph: +61-457-823-470
andrew.mclellan@bluechiip.com

Media
Richard Allen
Ph: +61-3-9915-6341
Oxygen Financial PR
richard@oxygenpr.com.au



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