News and Announcements
Collaborate (ASX:CL8) Raises $3.5m, Receives $1m Investment from RACV & Reports Record Cash Receipts
- Published August 10, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Collaborate Corporation Limited (ASX:CL8) has recently announced the consolidated quarterly cash flow report and business updated for the quarter ended 30 June 2017.
KEY TAKEAWAYS:
- Exercise of 100% of CL80 listed options raising a total of $3,500,295
- Strategic investment of $1 million received from RACV at an issue price of $0.03 per share, a 20% premium to the last closing price prior to issue.
- Collaborate and RACV are working to jointly realise peer-to-peer rental opportunities in the sharing economy in Victoria (for RACV’s 2.1 million members and the wider Victorian market.
- $3.6 million cash held at the end of June 2017, an increase of $3.4 million versus March 2017 Quarter.
- 56% increase in receipts, the June Quarter produced the highest ever cash receipts achieved by the company from its peer-to-peer operations.
- Significant progress with development and launch planning for the Mobilise business.
- Significant progress in incubating a new peer-to-peer business.
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