CTEA.L Regulatory News (CTEA)

20 April 2020

Catenae Innovation PLC

("Catenae", or the "Company")

Conditional Placing to raise £320,000 and Update

Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, today announces that it has conditionally raised gross proceeds of £320,000 by placing 32,000,000 new ordinary shares ("Placing Shares") at a price of 1p per share (the "Placing").

The holders of the Placing Shares will receive warrants to subscribe for a further ordinary share in the Company for every 2 Placing Shares held, which may be exercised at a price of 1.25p per share. The warrants may be exercised at anytime up to 2 years following the date the Placing Shares are admitted to trading on AIM.

The Placing has been conducted through Brandon Hill Capital Limited, the Company's broker, at the mid-price as of the close of Friday 17 April 2020.

The net proceeds of the Placing will provide the Company with additional working capital headroom to progress its activities.

As the Company does not currently have authority to issue shares for cash on a non-pre-emptive basis the Placing is conditional on shareholders approving resolutions granting such authorities at a General Meeting of the Company which will shortly be convened.

A further announcement providing details of the timing of the proposed General Meeting and the admission of the Placing Shares to trading on AIM will be made in due course.

Update

On the 26 March 2020 the Company announced a loan facility agreement with B.T.I.C. Limited for an amount of £150,000 to be used for general working capital purposes which would provide the Company with sufficient working capital until at least 30 June 2020. Prior to this date the Company had notified the market that its working capital position was weak and it was required to raise further funding.

As a result of the impact of Covid-19 situation, on 31 March 2020 the Company was granted an extension by AIM Regulation to delay the deadline for posting its annual report and accounts until 30 June 2020.

The Company announced on 17 April 2020 that it had joined a consortium led Z/Yen Group with the objective of building a GDPR compliant identity documentation exchange system, "Cov-ID", to record an individual's Covid-19 test status.

The announcement noted that the Cov-ID Project Technical mobilisation should occur over the next 2 week period, with a prototype, testing and finalisation stage occurring in the following 2 week period. Further updates will be made by the Company

As noted in that announcement, there is no guarantee that the Cov-ID product will be finalised nor that the project will enter into the commercialisation stage, nor that in the event that it is commercialised, that the commercial terms will be favourable to the Company.

Total Voting Rights

At the time of this announcement, the Company's total issued share capital is 107,236,017 ordinary shares of 0.2p each.

The above figures may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency rules.

Guy Meyer, Interim Chief Executive Officer, Catenae, said: "We are pleased to have raised this funding. This additional working capital will enable us to progress the recently announced involvement in the Cov-ID Project and also further develop our propriety technology, which is currently deployed across the Sporting, Man-Guarding and Facilities Management sectors."

- Ends -

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for release of this announcement on behalf of the Company was Guy Meyer, Interim Chief Executive Officer of the Company.

For further information please contact:

Forward-Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.