Enverro Limited (ASX:ERR) is raising up to $2.5 million through a prospectus priced at $0.40 to fund development and marketing of the Datetix Limited business that it is planning to acquire.
The company has also extended the option period for acquiring Datetix to allow for completion of due diligence and regulatory approvals.
It plans to acquire Datetix, a mobile and location-based social platform to meet new people for in person and on-demand dates, for 12.5 million ERR shares and a further 12 million performance rights.
Enverro had $1.6 million in cash and deposits as at 30th June 2015.
