Medibio Launches $1.4m placement, CEO resigns
- Medibio (MEB) receives firm commitments to raise $1.4 million via placement to fund its US Food and Drug Administration (FDA) application and for working capital
- The company will issue approximately 923.6 million shares at 0.15 cents over two tranches, with the offer of one free-attaching option for every one new share issued
- Additionally, Claude Solitario has resigned as CEO and Managing Director to pursue other business interests, effective today
- The search for a new CEO will commence shortly and the company confirms it will update the market in due course
- Shares in the company are down 33.3 per cent, trading at 0.2 cents as of 1:51 pm AEST
