Magnolia Resources (ASX:MGB) has raised the maximum $7.06 million through a prospectus priced at $0.20 as part of the relisting and capital raising process for its acquisition of PDT Technologies.
PDT owns Whole New Home, which is developing a ground-breaking holographic 3D retail experience in North America with H+ Technology.
This will allow home designers and their clients to view home décor and furnishings offered by WNH as high definition 3D holograms that allow for visualisation of their design vision.
Whole New Home aims to create the world’s first true omni-channel retail experience in the home space.
The company will re-commence trading on ASX under the new name Whole New Home Limited following completion of all ASX conditions to re-comply with Chapters 1 and 2 of the Listing Rules.
Prior to the capital raising, Magnolia Resources had $1.7 million in cash as at 30th June 2015.
News: Magnolia Resources raises $7M, proceeding with acquisition
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