Netlinkz Ltd (ASX:NET) Confirms 27m Share Placement to GEM Global Yield Fund LLC SCS
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PR Newswire
SYDNEY, June 4, 2019
SYDNEY, June 4, 2019 /PRNewswire/ -- Netlinkz Ltd (ASX: NET) (Netlinkz" or the "Company"), a leading Software networking cyber-security company, announced today the issuance of 27m shares at A$0.081 for the initial Draw Down on the GEM A$29m Capital Commitment Agreement generating A$2.2m working capital for the company.
The subscription price and number of Shares issued out of the Company's existing authorised share capital was determined in accordance with the terms of the GEM share subscription facility. There remains A$26.8m available to be drawn on the GEM facility to fund future growth strategies.
The initial draw down from the GEM Facility is intended to be used for general working capital and to fund the go to market strategy and product roll-out that is being formulated in the Beijing IoT Lab in conjunction with iSoftStone, one of China's leading software developers.
About NetLinkz Limited
NetLinkz provides secure and efficient cloud network solutions. The company's technology makes Fortune-500 security commercially available for organizations of all sizes. NetLinkz has received numerous industry awards for its technology, including being a worldwide winner of the Global Security Challenge.
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