Rewardle Holdings (ASX:RXH) has raised $5 million through a...

Rewardle Holdings (ASX:RXH) has raised $5 million through a share placement priced at $0.33 each to accelerate growth of its Merchant and Member Network.

The heavily oversubscribed placement of 15,151,515 shares was made to institutional and sophisticated investors.

It positions the Company to enhance its early mover advantage through the continued expansion of its Network.

Rewardle also believes that this has achieved its objective of securing one or more strategic investors who can assist with the growth and development of the business in addition to providing further capital.

It is in a number of discussions in this respect, the outcomes and timing of which remain uncertain but which may conclude in a strategic investment at the same issue price as this raising.

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