TruScreen raises $2.3 million in share placement

TruScreen has successfully raised $2.3 million in a share placement.

The company received firm commitments from both new and existing investors for the initial placement of 107,034,091 shares.

The shares were priced at $0.022 each.

Approximately 80.9 million of the shares will be issued under TruScreen's existing 15% placement capacity, while the remaining shares will be subject to shareholder approval.

Each new share issued will also come with one free attaching option, pending shareholder approval.

The share purchase plan offer, which allows eligible shareholders to purchase up to $50,000 worth of new shares, will open on June 3.

TruScreen said it is pleased with the support received for the placement and welcomed new institutional shareholders from Singapore and Hong Kong.