Control Bionics Plans Capital Raise and New Share Issuance

Control Bionics Ltd. (AU:CBL) has released an update.

Control Bionics Limited announces the addition of new resolutions to its upcoming Annual General Meeting agenda, including the approval for a significant share and option placement to raise $1.15 million in capital. This capital raise is contingent on shareholder approval, with 16,428,722 new shares priced at 7 cents each and options with a 10-cent exercise price. The company has also proposed issuing 500,000 options to Lynx Advisors Pty Limited as part of their lead management services.

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