Sydney - Monday - August 28: (RWE Australian Business News)...

Sydney - Monday - August 28: (RWE Australian Business News) -
Wavenet International Ltd (ASX: WAL) reports a $1.2 million capital
raising to support the Company's growth strategy.
Obelisk Nominees Ltd, a UK based investment group has injected
$1.2 million into Wavenet through a 14.9% share placement. Wavenet has
issued to Obelisk 7,736,680 ordinary fully paid shares at 15.5c.
The capital will be used to fund Wavenet's existing growth
strategy, including expansion of the Company's activity in the United
States, Wavenet's key market.