Intelligent Bio Solutions Inc. ("INBS" or the "Company") (Nasdaq: INBS), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced that it has entered into a securities purchase agreement with a single existing institutional investor to issue, in a private placement priced at-the-market under Nasdaq rules, 2,036,659 shares of common stock (or Series M pre-funded warrants in lieu thereof), Series N-1 warrants to purchase up to an aggregate of 2,036,659 shares of common stock, and Series N-2 warrants to purchase up to an aggregate of 2,036,659 shares of common stock, at a combined purchase price of $2.455 per share of common stock (or Series M pre-funded warrant) and associated Series N-1 warrants and Series N-2 warrants, for expected gross proceeds to INBS of approximately $5.0 million, before deducting placement agent fees and other offering expenses payable by the Company.

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