Rhinomed Ltd (ASX:RNO) Raises $2.5m in Private Placement

Rhinomed Limited (ASX:RNO) is pleased to announce today that it has raised a total of A$2.5m by a way of a placement of 78,125,000 fully paid ordinary shares at A$0.032 per shares with institutional, Sophisticated, and Offshore investors (placement).

The placement was corner-stoned by several existing foreign and domestic shareholders of the company and will be used to support recently announced distribution deals with iconic pharmacy chain Boots UK (ASX announcement August 21st 2015). The raise was managed by the company with assistance from Baillieu Holst.

The shares issued under placement were issued in accordance with Chapter 7 of the listing Rules and the placement and the placement does not require shareholder approval.

Mr Martin Rogers Chairman participated in the raising to the amount of $100,000 that is subject to shareholder approval.


About Rhinomed Limited

Rhinomed Limited (ASX:RNO) is a Melbourne based technology firm with a focus on nasal, respiratory and breathing management technologies. The company is seeking to monetise applications of its technology portfolio in the Sport, Sleep, Wellbeing and Drug Delivery markets. For more information, go to www.rhinomed.global

      

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