Company sells 61,111,111 of its ordinary shares at A$0.018 per share
By Devika Patel
Knoxville, Tenn., Feb. 3 - Mobile Embrace Ltd. said it has completed a A$1.1 million private placement of shares.
The company sold 61,111,111 ordinary shares at A$0.018 apiece, a 10% discount to the Feb. 2 closing share price of A$0.02.
Proceeds will be used to accelerate the growth of the company's integrated mobile advertising and marketing business and for working capital.
Mobile Embrace is an East Sydney, Australia, mobile phone content, interactive services and technology company.
| Issuer: | Mobile Embrace Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$1.1 million
|
| Shares: | 61,111,111
|
| Price: | A$0.018
|
| Warrants: | No
|
| Settlement date: | Feb. 3
|
| Stock symbol: | Australia: MBE
|
| Stock price: | A$0.02 at close Feb. 2
|
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