Bioxyne secures AU$3 million to drive expansion.

Bioxyne Limited (ASX: BXN) has successfully secured AU$3 million in a well-supported capital raise from institutional and sophisticated investors. The company will issue 120 million new shares at AU$0.025 per share, a 2.2% discount to the 15-day VWAP. Additionally, 60 million options will be issued at AU$0.05 per share, expiring in two years. 

The funds will accelerate Bioxyne’s expansion into European markets, including medical cannabis manufacturing facilities in the UK and Czechia, while supporting its FY25 revenue target of AU$25 million. Directors will invest AU$110,000, subject to shareholder approval. Alpine Capital Pty Limited acted as Sole Lead Manager, with brokers receiving 27 million options as part of the transaction. CEO Sam Watson expressed gratitude for investor confidence, emphasizing the company’s strategic approach to capital allocation given its profitability and positive cash flow. 

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