VMob is pleased to announce that the private placement announced in the Market Update of 13 April 2016 has now been finalised, with over subscriptions of $312,740 accepted.
A total of $3,312,740 has been raised. 8,953,351 new Ordinary Shares will be issued at $0.37 per Ordinary Share to a combination of qualifying New Zealand and Australia based high net worth individuals and institutional investors.
The issue price of $0.37 per Ordinary Share was reduced from the proposed $0.40 per Ordinary Share advised in the Market Update released to the market on 13 April 2016 to accommodate a strategic investor.
The new capital will be used to fund VMob’s continued offshore expansion, particularly in the US, and the ongoing development of VMob’s technology platform.
VMob’s Directors are delighted that a number of new, high-profile investors will join the share register, recognising the potential of VMob as it expands internationally and continues to improve its operating performance.
For further information, contact:
Scott Bradley, CEO
+1 (347) 744 3142
Stephen Davies, CFO
+64 27 269 1525