TruScreen Limited would like to advise that it has issued new shares to assist funding the continued expansion of the Company’s commercial operations.
The 13,080,000 ordinary shares issued at NZD 25 cents, will be used to fund the Company’s commercial operations, in particular:
- the build-up of inventory to meet expected increases in demand following regulatory approvals in China and Thailand.
- the purchase of tooling and components necessary to manufacture the new TruScreen device model due for production in late 2015.
- the manufacture of the pre-market release inventory of the new TruScreen device model.
- clinical and product validation trials of the new TruScreen device model; and
- ongoing research and development programs including the algorithm improvement program.
These new shares bring the total number of securities of ordinary shares of TruScreen in existence to 157,526,666.