Epsilon Healthcare Limited announced that Mr. Patrick Baiyu Xu has been appointed a director of the company with effect from June 3, 2022. Mr. Patrick Xu has over ten years commercial banking experience with specific experience in property finance, cash flow lending, as well as trade and working capital funding. Mr. Patrick Xu holds both a Masters of Commerce and International Business as well as a Bachelor of Management Studies.

The Company notes that given Mr. Patrick Xu is now a director of the Company, the earlier announced strategic placement facility of up to $2.1 million of which $1.5 million remains to complete will now be restructured noting that continuation would require further shareholder approval pursuant to ASX Listing Rule 10.11.1. The Company will look to update the market in due course as those discussions progress.