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Control Bionics Limited (ASX:CBL)
ALERT: Price-sensitive ASX Announcement for CBL
Current share price for CBL : $0.089 0.047 (111.90%)+
Announcement
Release
25 Feb 2025 8:08AM
Price at Release
$0.042
Full Release
Summary
Control Bionics Limited successfully raised approximately A$2 million through a private placement to two existing shareholders. The funds will support growth initiatives focusing on expanding their NeuroNode and NeuroStrip business lines. CEO Jeremy Steele expressed confidence in the strategic vision of the company and highlighted the promising market opportunities. The additional capital aims to strengthen product development, operational execution, and maximize the commercial potential of their innovative technology in global markets.
Key Points
- Control Bionics raised A$2 million via private placement.
- The placement was made to existing shareholders Nightingale Partners and Phoenix Development Fund.
- Funds will be used to grow NeuroNode and NeuroStrip operations.
- CEO Jeremy Steele emphasized the confidence in the company's strategic direction.
- The capital will enhance product development and operational execution.
- Control Bionics aims to maximize the commercial potential of its technology.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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