Emyria Ltd (ASX:EMD) is raising more than two and a half million dollars to facilitate expansion of the mental health treatment services offered at its ‘Empax Centre’ in Perth with a placement supported by sophisticated and professional investors.
The company has received firm commitments from the latter for the placement, with shares priced at 3.5 cents for a total raise of $2.525 million.
Within this, chairman Greg Hutchinson contributed a cornerstone subscription of $1 million.
Among the services to be expanded at the Empax Centre – which opened in April – is a treatment-resistant depression program for which Emyria has recently received approval.
Chairman Greg Hutchinson said the development of such a program was timely.
“Australia’s mental health crisis is escalating rapidly, underscoring the urgent need for more effective solutions,” he said.
“As a leader in world-class mental health programs, Emyria is uniquely positioned, and obligated, to address this challenge.
“As the only ASX-listed company delivering direct care in this field, our mission is clear: to expand access to our innovative treatments, improving the lives of more Australians.”
Emyria shares have shifted upwards today, and at 12:58 AEDT, they were trading at 4 cents – a rise of 2.56% since the market opened.
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