Emyria's $2.3m funding secured for clinical services expansion

Emyria Limited (ASX: $EMD) has received firm commitments for a placement of $2.3 million at $0.05 per share, along with 1 free attaching unquoted option for every 2 shares applied for. The funds will support the expansion of the Empax Centre, dedicated to developing and delivering new mental health care programs and driving potential revenues and clinical data collection.

Chairman's optimistic outlook on the impact of the funding

We are embarking on an exciting phase of growth with our newly opened Empax Centre. I am profoundly optimistic about the impact our work will have on mental health and my commitment to cornerstoning this placement reflects my confidence in our innovative approach and the exceptional team leading our efforts to address the overwhelming challenges faced by those with treatment-resistant PTSD. I am confident that the strategic use of these funds will significantly advance our mission, set new standards in care, and ultimately transform lives. I am also deeply grateful for the significant support this placement has received, underscoring our shareholders' trust and belief in our mission to make significant strides in mental health care. - Greg Hutchinson, Chairman

Emyria's strategic use of funds and outlook

Emyria Limited (ASX: $EMD) has secured firm commitments of $2.3 million to expand its clinical services, particularly focusing on addressing significant unmet needs in mental health care, including treatment-resistant forms of PTSD. The funds will support the strategic scale-up and national expansion of the Empax Centre, with expectations to achieve operational break-even by the second half of FY25. Additionally, the funds will facilitate further expansion of treatment models nationally and globally, as well as support the company's proprietary drug development initiatives. Emyria aims to develop new, patentable treatments for PTSD and select neurological conditions, solidifying its leadership in mental health innovation. The placement reflects the chairman's confidence in the company's innovative approach and the exceptional team leading the efforts to address the challenges faced by those with treatment-resistant PTSD. Settlement of the first tranche of the placement and issue of the new shares and options is expected to take place by Tuesday, 7 May 2024.