Full Press Release Details
Completes A$5.1M Placement to US Fund
Melbourne, Australia, March 16, 2018:
Immuron Limited (ASX: IMC; NASDAQ: IMRN), an Australian microbiome biopharmaceutical company focused on developing and commercializing
orally delivered targeted polyclonal antibodies for the treatment of inflammatory mediated and infectious diseases, is pleased
to advise of the completion of its $5.1M private placement to a large U.S. institutional investment fund.
As previously announced, the terms of the
private placement raised Immuron approximately A$5.1 million (before costs of the offer) for the issuance of 13,162,744 new ASX
shares at A$0.39 per share, plus three new free-attaching options for every 5 new shares issued resulting in 7,897,647 new options
being issued exercisable at A$0.468 per option, expiring 5 years from the date of issue.
The following information is provided
as required under LR3.10.5A:
The Company issued 12,931,546 fully paid
ordinary shares under its 10% capacity under Listing Rule 7.1A (Capacity Shares), representing part of the total number of securities
issued under this private placement.
Further information as required:
| No. of shares on issue prior to private placement | 129,615,462 |
| Shares issued to investor under LR7.1A (Capacity Shares) | 12,961,546 |
| Dilution as a result of issue under LR7.1A | 10% |
| Shares issued to investor under LR7.1 as part of this placement | 201,198 |
| Total number of shares now on issue | 142,778,206 |
Further details regarding the
issue of the shares are contained within the accompanying Appendix 3B.
(ASX: IMC, NASDAQ: IMRN), is an Australian microbiome biopharmaceutical company focused on developing and commercializing orally
delivered targeted polyclonal antibodies for the treatment of inflammatory mediated and infectious diseases.. Immuron has a unique
and safe technology platform that enables a shorter development therapeutic cycle. The Company currently markets and sells Travelan
for the prevention of Travelers' Diarrhea and its lead clinical candidate, IMM-124E, is in Phase II clinical trials
for Non-Alcoholic Steatohepatitis (NASH), Severe Alcoholic Hepatitis (SAH) and Pediatric Nonalcoholic Fatty Liver
Disease (NAFLD). Immuron's second clinical stage asset, IMM-529, is targeting Clostridium difficile Infections
(CDI). These products together with the Company's other preclinical immunotherapy pipeline products targeting immune-related
diseases currently under development, will meet a large unmet need in the global immunotherapy market.
For more information
visit: http://www.immuron.com
FORWARD-LOOKING STATEMENTS:
press release may contain "forward-looking
statements" within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited
to, any statements relating to our growth strategy and product development programs and any other statements that are not historical
facts. Forward-looking statements are based on management's
current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial
condition and stock value. Factors that could cause actual results to differ materially from those currently anticipated include:
risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and
relationships; risks relating to the results of research and development activities; risks relating to the timing of starting and
completing clinical trials; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers;
our ability to attract, integrate and retain key personnel; the early stage of products under development; our need for substantial
additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described
in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on
which any such statement is based, except as required by law.