Key points
o Ramping up further retail partnership trials and discussions beyond North America and Australia.
- Oversubscribed placement of 55,000,000 shares completed at $0.08, raising $4,400,000.
- Placement is corner-stoned by 2 large multinational institutional funds.
- Company to also offer current shareholders a Share Purchase Plan at $0.08, to raise up to a
further $2,600,000.
- The funds will be used to fund the production and marketing of IQbudsTM;
o Supporting traditional and digital marketing initiatives that will help to drive sales in all regions.
o Expand market access beyond consumer electronics retail by including hearing health programs to diversify sales channels and potential consumer reach.
o Increase inventory levels with Nuheara’s contract manufacturer, Flextronics, that in turn will ensure adequate product levels are maintained to support the diversification and expansion of the retail opportunities.
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- Ann: Nuheara Confirms $7 Million Capital Raise
Ann: Nuheara Confirms $7 Million Capital Raise, page-2
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