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Neurotech attracts A$4M investment

Neurotech International Ltd attracted a A$4 million investment in 20 million shares of the company priced at 20 Australian cents apiece.

The capital raising will be conducted in two tranches: 13,205,266 shares to raise A$2.6 million that will be settled Oct. 20 and another 6,794,734 shares for A$1.4 million following shareholder approval.

Neurotech plans to use the funds for the ongoing commercialization of its Mente Autism device, investigating potential strategic initiatives and general working capital.

Azure Capital Ltd. was the sole lead manager to the equity raising.