Netlinkz Ltd (ASX:NET) Confirms 13m Share Placement to GEM Global Yield Fund LLC SCS
SYDNEY, June 28, 2019 /PRNewswire/ -- Netlinkz Ltd (ASX: NET) announced today that pursuant to a Capital Call notice delivered to Global Emerging Markets ("GEM") on May 28th and representing 90% of the average closing price of the pricing period ended June 19th, the company is issuing 13m shares at $0.099 as a second drawdown on the A$29m Capital Commitment Agreement ("CCA"). This drawdown has generated A$1.2m in funding under the terms and conditions of the CCA as previously announced.
There remains A$25.5m available to be drawn on the GEM facility to fund future growth strategies.
This drawdown is intended to be used for working capital and to continue to fund the go to market strategy and product roll-out planned in China for late July, which is being formulated in the Beijing IoT Lab in conjunction with iSoftStone China's leading software developer.
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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