volume, page-12

Announcement from 16 February 2011.


The Manager
Company Announcements
Australian Stock Exchange
Level 4, 20 Bridge Street
Sydney, NSW 2000
$3M SHARE PLACEMENT TO BOOST COMMERCIALISATION
Australian natural products provider BioProspect Limited (ASX:BPO) today announced the completion of a
private share placement, raising $3 million after costs to help support the commercialisation of REGEN®
therapeutics and AGRIPRO® natural animal health products.
The move follows the February 15 announcement of a new distribution agreement for REGEN® therapeutics
spanning Australia and New Zealand, the commercialisation of the DEMURE® and L’AZURE™ natural skin
care and cosmetic ranges and ongoing development of AGRIPRO® products, including GI-GUARD® Oral
Paste.
For each share placement, each subscriber will also receive a 1:1 free attaching option of the current listed
options expiring 31 December 2013 at an exercise price of 3 cents (ASX: BPOO).
The Company will allot immediately 123,900,000 Shares at an issue price of 1 cent under its existing 15 per
cent capacity, under Listing Rule 7.1, with the balance of the placement shares and all free attaching options
to be allotted subject to shareholder approval. The placement was arranged by Novus Capital Limited and a 5
per cent fee is payable on the placement proceeds.
Commenting on the placement, Managing Director Charles Pellegrino said: “This placement indicates the
continued investor interest in our natural health products and solid support for our commercialisation efforts.
Stringent capital management is key to our successful growth, and we remain focused on growing
shareholder value.”
Use of funds
The funds from the private placement will be used for the following purposes:
• expansion of existing operations, including the rollout of REGEN® natural health products, and
commercialisation of the DEMURE® and L’AZURE™ natural skin care and cosmetic ranges;
• market development programs with AGRIPRO® natural animal health products;
• general working capital requirements; and
• evaluation of potential investment opportunities following a number of recent unsolicited
approaches to the Company.
The placement has been made by way of an excluded offer of ordinary fully paid shares under Section 708 of
the Corporations Act.