IMEXHS secures AU$1.5 million Investment for Growth

IMEXHS Limited (ASX: IME) has successfully secured AU$1.5 million investment through a placement to institutional and sophisticated investors, with additional funds from directors pending shareholder approval. The placement, offering shares at AU$0.55 each, received strong support, raising AU$1.25 million initially and an additional AU$0.25 million subject to approval. The offer price represents a discount to recent share prices.

The net proceeds will bolster the company's financial position and support future contracts. Settlement is expected in mid-March 2024. IMEXHS directors have committed to invest further, indicating confidence in the company's trajectory. CEO Dr. German Arango expressed gratitude for the support, emphasizing the funds' importance in sustaining growth and working capital. The issuance of shares under the conditional placement awaits shareholder endorsement at the upcoming annual general meeting.

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