26 May 2015
ANTEO RAISES $1 MILLION FROM STRATEGIC INVESTORS TO ADVANCE ANTEO ENERGY PROJECTS
• 12,500,000 new shares issued at $0.08 per share to existing shareholders
• Funds raised to advance Anteo Energy
Anteo Diagnostics Limited (ASX:ADO) (Anteo) is pleased to announce that it has completed a $1 million placement at $0.08 per share to long-term shareholders wishing to invest in the Group's continuing development of its nanoglue technology in the battery sector.
12,500,000 new Fully Paid Ordinary (FPO) shares will be issued and funds will be deployed specifically to advance Anteo Energy activities. The FPO shares will rank equally with the Ordinary Shares currently on issue. The new placement was undertaken at market price.
The new capital raised for Anteo Energy will allow us to:
• Further develop Anteo's nanoglue
• Support the ongoing internal development of activities independent of other
Anteo projects
• File further patents around any additional inventions
• Increase the investigations into wider applications of nanoglue within the battery market
• Establish and grow relevant commercial networks within the battery industry
• Examine different commercial nanoglue alternatives
Our investors have been encouraged by the prospects for Anteo Energy and are keen to see the potential commercial opportunities of Anteo's nanoglue technology in the battery market.
Anteo's Chief Executive Officer Dr. Geoff Cumming commented: "I am pleased to see shareholders' desire to drive the Anteo Energy project forward independently of our core activities.
Our early data gives confidence that we can provide a commercially relevant technology that is compatible and will enhance batteries of today and the future, providing greater capacity, improved efficiency and longer life.
The level of enthusiasm shared by our investors for the potential of Anteo Energy, driven by the data, now gives us the ability to fast-track our program for the use of our nanoglues in batteries. This is potentially a very large market opportunity for Anteo."
-ENDS-
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Anteo Diagnostics Limited ACN 070 028 625
Unit 4, 26 Brandl St, Eight Mile Plains, QLD 4113, Australia p: +61 7 3219 0085 f: +61 7 3219 0553 [email protected] www.anteodx.com