Wangle Technologies Limited (Wangle or the Company) (ASX: WGL) is pleased to announce that firm commitments have been received for a Placement of 70,000,000 fully paid ordinary shares at an issue price of $0.008 per share (Shares) with a 1 for 2 free attaching option, exercisable at $0.025 on or before 31 August 2018 (Options), to raise $560,000 before costs.
These Shares will be issued pursuant to the Company’s existing capacity under ASX Listing Rule 7.1A and the Options will be issued subject to the passing of certain resolutions regarding the Company’s placement capacities at its upcoming General Meeting to be held on 12 March 2018. The Options will be issued as soon as practicable after the resolutions have been passed.
CPS Capital Group Pty Ltd (CPS Capital) has been appointed Lead Manager and Broker. Subject to the successful completion of the Placement, the Company has agreed to issue 20,000,000 Options to the Lead Manager as part of its mandate for providing these services.
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