TruScreen Capital Raising

NZX and Media Release 22 March, 2017 TRUSCREEN ANNOUNCES CAPITAL RAISING Capital investment to fund commercial opportunities. Cervical cancer technology company, TruScreen Limited (NZAX:TRU) has undertaken a $4.09 million share placement to institutional and other select investors as it looks to strengthen its balance sheet and fund commercial growth. In addition to the placement, TruScreen intends to make an offer to existing retail shareholders of the company, on the same terms and pricing, through a Share Purchase Plan. TruScreen, which has the world's only certified, real time, objective primary screening device for cervical cancer, has in recent times made significant advances to the design and performance of its device, with the launch of its second generation TruScreen2 device in 2016. This has opened up commercial opportunities in a number of international markets and TruScreen is in contention for a number of large scale and government screening programs. The Board wishes to raise new capital to strengthen the balance sheet, fund sales and marketing initiatives, expand manufacturing capabilities and continue improvement to the devices performance. In particular, funds will be used to: o Prepare for anticipated commercial opportunities in China and India; o Expand commercial growth in European and Latin American markets; o Fund clinical and familiarisation trials as required for product improvement and acceptance in government programs; o Expansion of manufacturing facilities and supply capabilities; o Build-up of inventory; o Continued product refinement. Chairman of TruScreen, Mr Robert Hunter, said: "Cervical cancer is a major cause of mortality amongst women worldwide, particularly in countries that lack cervical cancer screening programmes. We are now seeing increased investment from Governments into screening programmes and are focused on positioning our real time, accurate and cost effective TruScreen2 as the preferred technology for these large scale screening programmes. We have identified a number of immediate opportunities and this capital raising will ensure we have the resources and capacity to progress with these. "We are delighted with the support we received for the placement from our large investors. The SPP will allow our retail shareholders an equal opportunity to participate in this capital raising." Placement The placement was undertaken with institutional and other select investors subscribing for 25,562,500 shares at 16c per share. Settlement and allotment of the new shares is expected to occur on 24 March, 2017. Share Purchase Plan Existing retail shareholders of TruScreen will be invited to subscribe for new shares under a Share Purchase Plan. The subscription price will be the same as that for the private placement, 16c per share. Key Dates The record date for determining entitlements to participate in the Share Purchase Plan and other key dates will be announced shortly. -ENDS- For more information visit www.truscreen.com or contact Martin Dillon, TruScreen Chief Executive Officer, email: martindillon@truscreen.com About TruScreen: TruScreen's real time cervical cancer technology utilises a digital wand which is placed on the surface of the cervix to measure electrical and optical signals from the surrounding tissue. A sophisticated proprietary algorithm framework distinguishes between normal and abnormal (cancerous and precancerous) tissue to identify precancerous change, or cervical intraepithelial neoplasia (CIN). A Single Use Sensor (SUS) is used for each patient to protect against cross-infection. End CA:00298627 For:TRU Type:GENERAL Time:2017-03-22 08:30:30