AEGiS-PRn: Trinity Biotech Completes Second Tranche of Private Placement

Important note: Information in this article was accurate in 1995. The state of the art may have changed since the publication date.

Trinity Biotech Completes Second Tranche of Private Placement

PR Newswire - November 2, 1995

DUBLIN, Ireland, Nov. 2 /PRNewswire/ -- Trinity Biotech (Nasdaq: TRIBY) announced that the Company had raised a further $3.0 million from European Institutional Investors. The Placement completes the Offering to institutional investors which Trinity initiated in July of this year with total proceeds of $6 million. Approximately 1.6 million Restricted "A" Ordinary Shares were issued in this second tranche of the Placement sponsored by the Investment Banking arm of Yorkton Securities Inc. based in Canada and London, England.

Commenting on the fund-raising, Trinity's Chief Executive Officer, Ronan O'Caoimh said "Trinity is delighted to complete its Placement with some of Europe's leading financial institutions. Their involvement is indicative of a belief in Trinity's long-term future underpinned by the Company's strong financial position and the enormous potential of its Uni-Gold(TM) one-step technology. Trinity has shown impressive financial performance in 1995 with expected sales in excess of $9 million; losses reducing by the quarter to close to breakeven and a strong balance sheet with cash and liquid investments in excess of $7 million. Trinity's Uni-Gold(TM) one-step test is an enabling technology which will facilitate the development of a broad range of diagnostic tests. Trinity is on target for the launch of its unique Uni- Gold(TM) HIV test in the coming months."

Trinity Biotech specialises in the development, manufacture and marketing of rapid tests for pregnancy and infectious diseases.

CONTACT: Jonathan O'Connell, 1-800-603-8076, or Shanny Giles, 714-457-1787, both of Trinity Biotech/ 09:00 EST

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