Invigor Group Limited (ASX: IVO) is a Business-to-Business data solutions and intelligence company that provides tactical recommendations and insights to its clients, which help the client to positively impact future customer strategy and increase long-term success.
The company today announced to the exchange that it has secured $767,200 placement agreements with sophisticated investors at $0.004 for each ordinary share. Further, the company also highlighted that an initial amount of $267,200 has been completed for 66.8 million ordinary shares at $0.004 on 15 April 2019, and the shares have been issued. The remaining $500,000 is part of the second instalment wherein the company will issue 125 million shares at $0.004, the same is expected to be completed by 26 April 2019.
The details provided by the company for the first instalment is as follows:
The company is raising money to meet its working capital requirements. A total of 66,800,000 fully paid ordinary shares were issued on the same terms and conditions as the existing shares. These shares rank equally with the existing quoted ordinary shares.
The shares are issued at a price of $0.004 per share.
Further, the company has provided a notice for the purpose of section 798A (5)(e) of the corporations Act 2001 (cth) (Corporations Act) that 66,800,000 fully paid ordinary shares were issued on 15 April 2019.
On 12 April 2019, the company declared to the exchange about the deployment of WeChat Pay platform in Singapore. This announcement comes on back of the company’s announcement on 10 April 2019 about IVO deploying WeChat Pay platform for club 21. The company in its release stated that it would deploy its proprietary technology offering into the WeChat Pay platform for the world famous multi-brand retailer Dover Street Markets. The retailer is situated near Singapore’s iconic tourist area, and it is brought to Asia by Club 21. Since Invigor’s initial deployment of the WeChat Pay Platform into Singapore in January, the company has managed to deploy across 60 outlets and the number is now scaling rapidly as reported.
Speaking on the occasion, the CEO, Gary Cohen said that they are currently witnessing robust momentum in new store deployments in both online and offline environments. The combination of Advertising, Loyalty, and Payments platform offered by Invigor is appealing to retailers and helping the company build sustainable revenue streams.
IVO has delivered a negative return of 42.86 percent in the past one year. Further, the stock has delivered -27.27 percent, and 14.29 percent in the past six months, and one-month respectively.
The shares of IVO closed the trading flat at $0.004 on ASX (As on 16 April 19), as compared to the previous day’s closing price. The market capitalisation of the company stands at $10.38 million. The 52-week high price is $0.009, and the 52-week low price is $0.003. As per the lasted updated ASX data, EPS stands at -$0.009.
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