VDM Group (ASX:VMG) should trade higher after signing an agreement with a sophisticated private investor for the placement of 250 million shares at $0.012, raising $3 million.
This is a 33% premium to the company's closing price on Friday of $0.009.
In September, VDM executed an agreement with Australia Kengkong Investments Co to provide unsecured funding of $10 million via a loan which may be convertible into 1 billion VDM shares at $0.01.
The $10 Million Convertible Loan is in addition to the $4.5 million convertible loan provided by Kengkong in May, and provides financial flexibility to continue to implement its new business strategy.
This new strategy is focused around construction, services and equipment, procurement, and mining projects.
VDM is capitalised at $28 million.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
0.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.927M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
| VMG (ASX) Chart |
Day chart unavailable