Pacific Edge 2 for 11 entitlement offer to raise $35.3 million

Pacific Edge Limited ("Pacific Edge" or the "Company") today announced its intention to raise $35.3 million through a fully underwritten pro-rata renounceable Rights Offer ("Offer").

The proceeds of the Offer will provide Pacific Edge with the funding to:

• Expand the Company's sales force in the United States from 12 to 18 people to service 19 major metropolitan regions in the United States;
• Complete the evaluation of South East Asia and, if favourable, launch operations in Singapore as an entry point; and
• Complete the commercialisation of the Company's third and fourth Cxbladder diagnostic tests, Cxbladder Monitor and Cxbladder Predict.

In addition, the proceeds will be used to strengthen the Company's balance sheet to allow the Company to take advantage of commercial opportunities which arise.

The Offer allows all eligible shareholders to subscribe for 2 new shares for every 11 shares held on the record date, at a subscription price of $0.61 per new share. Pacific Edge has appointed First NZ Capital Securities Limited as Lead Manager to its capital raising. First NZ Capital Securities Limited is fully underwriting the Offer.

Pacific Edge Chief Executive David Darling said, "We are very pleased with the wide support shown by the Company's existing shareholders. This Offer allows Pacific Edge to pursue its stated objectives and gives existing shareholders the opportunity to participate in the future growth of the Company."

Shareholders who do not wish to participate in the offer can sell their rights, which will be tradable on the NZSX, or do nothing[1]. If eligible shareholders do not take up their rights or do not sell their rights on the NZSX then they will not receive any value for their rights. Rights attributable to ineligible shareholders will be issued to a nominee who will endeavor to sell the Rights on behalf of the ineligible shareholders.

Key Dates

The key dates* for the Offer are:

Click here to view the Rights Issue Presentation

*These dates are subject to change and are indicative only.

The terms of the Offer are summarized in the accompanying presentation and are fully disclosed in the offer document which will be provided to eligible shareholders.

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