Immuron Ltd. Announces Pricing of U.S. Initial Public Offering and NASDAQ Listing – Raising US $6.1 Million

MELBOURNE, Australia, June 08, 2017 -- Australian biopharmaceutical company Immuron Limited (ASX:IMC) (NASDAQ:IMRN), today announced the pricing of its initial public offering in the United States of 610,000 American Depository Shares ("ADSs") and warrants to purchase up to 610,000 ADSs.  Each ADS, representing 40 Ordinary Shares of the Company, and each warrant to purchase one ADS, are offered at a combined price to the public of $10.00.  The warrants will have a per ADS exercise price of $10.00, are exercisable immediately, and will have a term of five years.

The gross proceeds to Immuron from this offering are expected to be $6,100,000, prior to deducting underwriting discounts, commissions and other estimated offering expenses. Immuron has granted the underwriters a 45-day option to purchase up to an additional 91,500 ADSs and/or warrants to purchase 91,500 ADSs to cover over-allotments, if any.

Immuron plans to use the net proceeds from the offering to fund its ongoing clinical programs, for the repayment of certain indebtedness, to fund manufacturing costs and marketing initiatives and for working capital and other general corporate purposes.

Immuron’s ADSs and warrants are scheduled to begin trading on the NASDAQ Capital Market on June 9, 2017, under the symbols “IMRN” and "IMRNW", respectively. The offering is expected to close on June 14, 2017, subject to customary closing conditions.

Joseph Gunnar & Co., LLC and Rodman & Renshaw, a unit of H.C. Wainwright & Co., are acting as joint book-running managers for the offering.  Sichenzia Ross Ference Kesner LLP is acting as U.S. legal counsel to Immuron and Loeb & Loeb LLP is acting as U.S. counsel to the underwriters.

The Securities and Exchange Commission declared effective a registration statement on Form F-1 relating to these securities on June 8, 2017. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained by contacting Joseph Gunnar & Co, LLC, Prospectus Department, 30 Broad Street, 11th Floor, New York, NY 10004, telephone 212-440-9600, email: [email protected] or H.C. Wainwright & Co., 430 Park Avenue, New York, NY 10022, email: [email protected]. Investors may also obtain these documents at no cost by visiting the Securities and Exchange Commission’s website at http://www.sec.gov. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the Securities and Exchange Commission for more complete information about the Company and the offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Immuron Ltd
Immuron Ltd (ASX:IMC) is a biopharmaceutical company focused on developing and commercializing oral immunotherapeutic for the treatment of many gut mediated diseases. Immuron has a unique and safe technology platform that enables a shorter development therapeutic cycle. The Company currently markets and sells Travelan® for the prevention of travelers’ diarrhea whilst its lead product candidate IMM-124E is in Phase 2 clinical trials for NASH and ASH. These products together with the Company’s other preclinical immunotherapy pipeline products targeting immune-related diseases currently under development, will meet a large unmet need in the market. For more information visit: http://www.immuron.com.

Forward-Looking Statements
This press release contains forward-looking statements about the Company’s expectations, beliefs and intentions. Forward-looking statements can be identified by the use of forward-looking words such as “believe”, “expect”, “intend”, “plan”, “may”, “should”, “could”, “might”, “seek”, “target”, “will”, “project”, “forecast”, “continue” or “anticipate” or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements involve certain risks and uncertainties, including, among others, risks impacting the ability of the Company to complete any public offering of its securities because of general market conditions or other factors and risks that could cause the Company’s results to differ materially from those expected by Company management. Any forward-looking statement in this press release speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in Immuron Ltd.'s Registration Statement on Form F-1 filed with the SEC, which is available on the SEC's website, www.sec.gov.

COMPANY CONTACT:
Thomas Liquard
 
Chief Executive Officer
Ph: +61 (0)3 9824 5254
[email protected]

IMMURON INVESTOR RELATIONS:
Peter Taylor
 
NWR Communications
Ph: +61 (0)4 1203 6231
[email protected]