News: PHW Consolidated raises funds to support acquisition

PHW Consolidated (ASX:PHW) has raised $415,000 through an oversubscribed convertible notes issue to meet costs associated with the Tomizone acquisition.

Proceeds from the interim capital raising will also be used to provide a convertible loan to Tomizone to commence its global sales strategy and fund working capital.

In February, the company executed an agreement to acquire Tomizone, a WiFi software company, in an all scrip transaction.

Tomizone connects its customers with consumers through public WiFi, creating digital connections, and an engaging conversation that creates value for both customer and consumer.

It delivers market-leading WiFi software, hardware and services through its cloud based Lightswitch® software platform, which now operates in over 80 countries.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.