Crowd Mobile to Raise $3 Million Via Placement & Rights Issue

19th August 2016, ASX Announcement

Highlights:

  • A$2.4 million raised through a share placement
  • A$1.0 million Rights Issue which is partially underwritten
  • Funds raised will support our ongoing marketing initiatives, investments in product development and earnings growth strategy.

Crowd Mobile Limited (ASX:CM8 & FWB-XETRA:CM3, Crowd Mobile, “the Company”) is pleased to announce that it has received commitments from sophisticated and professional investors to subscribe for A$2.4 million of new and  fully paid ordinary shares in the Company at 16 cents per share with a 1 for 2 free attaching option exercisable  at 27 cents, expiring 2 year from the date issue (“Share Placement”).

Crowd Mobile also announces a Non-Renounceable Rights Issue to raise A$1.0 million on the same terms as those of the Share Placement (“Rights Issue”). A$0.6 of the Rights Issue is being underwritten by DJ Carmichael Pty Limited (“DJC”), which combined with the Share Placement raises A$3.0 million in total.

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