STATEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE Byte Power Group Ltd update on Capital Raising Byte Power Group Ltd (ASX:BPG) (Company) is pleased to announce that it has secured an investor for A$1,000,000 pursuant to the Group’s capital raising exercise. The investment is in the form of 100,000,000 Redeemable Convertible Notes (“Note”) at an issue price of AU$0.01 per Note. The Note Term is 3yrs and each Note accrues interest at 8% compounding daily, payable quarterly in arrears. The Group is in discussions with several parties who have expressed interest in subscribing for the Notes and expects to close the capital raising by the end of April. The Company confirms that its discussions with investors are in line with Section 708A of the Corporations Act and will make further announcements in relation to the issuance of further Notes as those discussions materialise. The funds raised will add to working capital as the Company moves towards the launch of its Cryptocurrency Exchange. Mr Alvin Phua, Chairman and CEO commented: “This investment is a strong vote of confidence in the Company and a validation of the Company’s direction”. Michael Wee Company Secretary Byte Power Group Limited
- Forums
- ASX - By Stock
- BPG
- Ann: Issue of Convertible Notes
Ann: Issue of Convertible Notes, page-2
-
- There are more pages in this discussion • 27 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BPG (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO
Charles Armstrong
CEO
SPONSORED BY The Market Online