Emyria Limited Secures AU$2.525 million in Capital Raise to Bolster Mental Health Initiatives

Highlights:

• Successful Capital Raise: Emyria Limited (ASX: EMD) secured AU$2.525 million through a strongly supported placement, priced at AU$0.035 per share, representing a significant milestone for the company.
• Strategic Fund Allocation: Proceeds will drive the expansion of Emyria’s mental health treatment services, including a program for treatment-resistant depression at the Empax Centre.
• Chairman’s Support: Chairman Greg Hutchinson contributed AU$1 million as a cornerstone investor, with the second tranche of shares subject to shareholder approval in early 2025.

Emyria Limited (ASX: EMD) has announced a successful capital raise, securing AU$2.525 million through a strongly supported placement. The funding, received from new and existing professional and sophisticated investors, highlights the market's confidence in Emyria's innovative approach to addressing Australia's escalating mental health crisis.

Key Details of the Placement

The placement was priced at $0.035 per share, representing a 10.26% discount to the last traded price on November 22, 2024, and a 3.13% discount to the 15-day volume-weighted average price (VWAP). Approximately 72,142,858 fully paid ordinary shares will be issued in two tranches.

• First Tranche: Around 43,571,429 shares will raise $1.525 million under Emyria's existing placement capacity.
• Second Tranche: An additional 28,571,429 shares will be issued, contingent on shareholder approval, with Chairman Greg Hutchinson contributing a cornerstone investment of $1 million.

Strategic Focus and Use of Funds

The funds will accelerate the expansion of mental health treatment services at Emyria’s Empax Centre, including its recently approved treatment-resistant depression program. This initiative underscores Emyria's commitment to providing advanced care for neurological and mental health conditions, a mission critical amid Australia's rising mental health challenges.

Investor and Manager Contributions

62 Capital Pty Ltd served as the Lead Manager for the placement and has elected to receive its 6% fee in shares, further affirming confidence in Emyria's growth trajectory. Settlement of the first tranche is anticipated by December 9, 2024, with share issuance by December 11, 2024.

A Vision for Better Mental Health Care

At the time of writing, Emyria remains actively engaged with major health funds to explore sustainable funding solutions, ensuring long-term viability of its programs and expanded access to care.

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