Imugene Limited Announces Completion Of Acquisition Of Lingual Consegna Pty Limited From Cosegna Group Ltd; Finalizes Share Placement; And Appoints New Chairman Of The Board

Imugene Limited announced the completion of the acquisition of 100% of the issued share capital of the drug delivery technology company Lingual Consegna Pty Limited from the Consegna Group Limited (Consegna). The consideration for the acquisition was 100,000,000 fully paid ordinary shares in the Company to Consegna. The Company has also finalized the share placement and will proceed to allot and issue 100,000,000 shares to sophisticated investors at an issue price of AUD 0.01 per share to raise AUD 1,000,000. These funds will be used towards funding of the expanded Imugene drug delivery technologies and general working capital. Furthermore, the Company also announced the appointment of Mr. Fabio Pannuti as Executive Chairman of the Board, replacing Mr. Graham Dowland who stepped down from his position as Chairman.