Cardiex Completes Placement & Launches Entitlement Offer

• Firm commitments to raise $2.4 million through Share Placement
• Launch of fully underwritten, non-renounceable Entitlement Offer to raise up to $4.1 million
• C2 Ventures committed to $0.736 million in Share Placement and $1.2 million in Entitlement Offer

Cardiex Ltd has secured firm commitments to raise $2.4 million through a Share Placement of new fully paid ordinary shares to institutional and sophisticated investors. Following the Share Placement, the Company will undertake a 1-for-4 non-renounceable pro-rata Entitlement Offer to eligible shareholders to raise up to a further approximately $4.1 million. C2 Ventures Pty Ltd (a Company jointly owned by Directors Niall Cairns and Craig Cooper) has committed $0.736 million to the Share Placement and to fully take up their $1.2 million entitlement under the Entitlement Offer. C2 Ventures will also sub-underwrite the Entitlement Offer in part, subject to compliance with regulatory requirements. Funds raised will largely support new device manufacturing, marketing and sales activities, and commercial scale-up of the CONNEQT Pulse.