• Wellnex Life receives A$9 million in conditional binding commitments for proposed dual listing on AIM
• Funds to be used to redeem convertible notes, pay deferred consideration, and support working capital
• Proposed AIM listing remains subject to regulatory requirements, including capital raise completion

Wellnex Life Limited (ASX: WNX) has received initial conditional binding commitments of A$9 million to cornerstone its capital raise at $0.65 per ordinary share for the proposed dual listing on the AIM Market of the London Stock Exchange plc (AIM). The company has also launched a 1:1 non-renounceable entitlement offer, with the shortfall to be used for the Placement and conversion of convertible notes. Funds raised will be used to redeem the balance of the convertible notes, pay the outstanding deferred consideration due for the Pain Away business, and fund general working capital requirements, including the costs of the Entitlement Offer and the proposed AIM listing. The redemption or conversion of all convertible notes and settlement of the Pain Away deferred consideration will result in the company saving approximately A$1.4 million in annual costs. The proposed dual listing on AIM remains subject to the company meeting all regulatory requirements for admission, including the completion of the capital raise. Wellnex Life will continue to pursue an accelerated launch of its brands in the UK and other European markets, as well as pursue additional distribution of its liquid softgel range.

Wellnex Life expects the proposed AIM dual listing and recapitalization of the balance sheet to enhance both company and shareholder value. The company will continue to pursue an accelerated launch of its brands in the UK and other European markets, as well as pursue additional distribution of its liquid softgel range.