• Firebrick raises $1.5 million through a placement of 31.9 million shares
• Funds will be used for business development, new product development, and working capital
• Placement was strongly supported by new and existing sophisticated investors

Firebrick Pharma Limited (ASX:FRE) has announced that it has secured firm commitments from investors for approximately $1.5 million, which was the target for the Placement, through the issue of approximately 31,914,893 fully paid ordinary shares ('Shares') at an issue price of $0.047 (4.7 cents) per share (the 'Placement'). The Placement was strongly supported by new and existing sophisticated investors. The 31.9 million Shares will be issued pursuant to the Company's existing placement capacity under ASX Listing Rules 7.1 and 7.1A, representing approximately 12.6% of current shares on issue (252,479,085). The issue price of $0.047 per share represents a discount of 16.5% to the 15-day VWAP to 26 March 2026 ($0.05630) and a 13% discount to the last trading place on 26 March 2026, being $0.054 (5.4 cents). Placement participants will receive one free attaching option (Option) for every two Shares issued, with an exercise price of $0.095 (9.5 cents) and an expiry date of 4 July 2028. Proceeds from the Placement will be applied to costs associated with expansion of Business Development & Licensing (BD&L), new product development (NPD) costs of two new products, and working capital up to 12 months.