Medlab Clinical Ltd (AU:MDC) has released an update.
Medlab Clinical Ltd, an Australian biotech company, has completed a strategic sale of shares and is now in talks to acquire a key minerals business aligned with the global net-zero agenda. They anticipate a $4.5M capital raise to facilitate the acquisition and cover a 24-month working capital requirement, with investor interest suggesting a swift completion. Despite no cash receipts in Q3 2024, the company maintains a cash balance of $197K and continues to manage ongoing corporate expenses.
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