Equity Prepayment Facility drawdown

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genedrive plc (LSE: GDR), the point of care molecular diagnostics company, today announces a further scheduled £300,000 draw down under the terms of the £5m Equity Prepayment Facility, which was previously announced by the Company on 31 March 2023. Investors have been granted 1,614,669 warrants equal to 40% of this drawdown divided by the Reference Price of 7.43186 pence. The exercise price of the warrants payable to the Company will be 140% of the Reference Price equating to 10.4046 pence.

Capitalised terms in this announcement shall, unless the context demands otherwise, bear the meanings given to such terms in the announcement of the Facility made via RNS on 31 March 2023.

In order to support the further drawdown and delivery of the £5m Equity Prepayment facility that was announced on 31 March 2023, application will be made for the Admission to trading on AIM of 3,300,000 new Ordinary Shares of 1.5p each ("New Ordinary Shares"). Admission of the New Ordinary Shares ("Admission") is expected to occur on 5 December 2023. Following Admission, the New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares.

Following Admission the Company's issued share capital will consist of 111,739,946 Ordinary Shares of 1.5p each and this figure may be used by shareholders as the denominator for the calculations by which they should determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.