BCAL Commences US Operations

Highlights:

The opportunity to establish BCAL US and commence operations arose out of BCAL research partner Precion Inc undertaking an internal restructure. Key features are:

While the specific financial terms on which BCAL has been able to establish its US operations are commercially confidential, the BCAL board considers the opportunistic establishment of BCAL US as being extremely cost-effective. Additionally, as result of the recent $10.5 million capital raising, BCAL US has been established and can operate over the short-term without needing to raise any further capital.

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