gold stocks postpage LB desk

AI and e-commerce Company RooLife Group Raises Additional Funds Through Placement

  • December 12, 2019 04:58 PM AEDT
  • Team Kalkine
AI and e-commerce Company RooLife Group Raises Additional Funds Through Placement

Australia-based RooLife Group Ltd (ASX: RLG) offering fully-integrated digital marketing and customer acquisition services informed on 12 December 2019, further to its announcement on 10 December 2019, that it has received applications to raise an additional $431,498 under its current placement. The total accepted subscriptions under the placement of securities to sophisticated and professional investors now stand at $ 1,931,498 before costs.

non AMP MTF 10th feb webinar

Under the Placement, RooLife Group will now issue a total of 55,185,653 new fully paid ordinary shares at $0.035 each, together with one free attaching listed option for every two Shares (Options), with each Option having an exercise price of $0.05 per share and an expiry date of 31 October 2021.

As indicated earlier, the proceeds from this placement would be directed towards building on the strong growth that the company experienced throughout 2019 and achieve business expansion through marketing the product offerings in China, expansion of the new WMall online sales channel and additional brand acquisition as well as promotion of the company’s service to prospective clients at home in Australia.

The placement would be settled in two tranches-

  • Tranche 1: 27,935,950 new fully paid ordinary to be issued at $0.035 each under ASX Listing Rule 7.1 and 27,249,703 Shares will be issued under ASX Listing Rule 7.1A.
  • Tranche 2: 27,592,827 associated Options to be issued subject to shareholder approval at general meeting of shareholders expected to be held in January 2019.

For more details: RooLife Group raises $1.5 million; well Positioned to Grow Through December And Into Next Year

Stock Performance: With a market capitalisation of $11.7 million and ~ 285.44 million shares outstanding, the RLG stock settled the day’s trade on 12 December 2019 at $ 0.041. RLG has delivered a YTD return of 17.14% and a three-month return of 10.81%.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is sponsored but NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. We are neither licensed nor qualified to provide investment advice through this platform.

 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and 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 stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images 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 on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
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