Crowd Media Raises $1.5Mn in Heavily Subscribed Placement

Global media and marketing company, Crowd Media Holdings Limited (ASX:CM8) has successfully raised $1.5 million via a heavily oversubscribed placement of 62.21 million ordinary shares at 2.5 cps and 31.105 million options with an exercise price of 4 cents and 2-year expiry from issue.

Proceeds will be used to strengthen the Company’s balance sheet, hasten scale up, reinforce sales and slash the Billfront facility by up to $500 k. New shares under the Placement are expected to be issued by 26 June 2020.

In an address to shareholders, Chairman Stephen Schapera stated that Crowd continues to improve in the most important of all metrics, with underlying EBITDA now positive and steadily improving.

CM8 quoted $ 0.029 at 12:04 PM AEST on 23 June 2020.

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK