Australia's Entertainment Media plans A$6 million placement of stock

By Susanna Moon

Chicago, June 21 - Entertainment Media and Telecoms Corporations Ltd. announced a A$6 million private placement of stock to nine institutional investors.

Proceeds will be used for working capital.

The company's shares (Australia: ETC) closed at A$0.08 June 20.

The company sells telecommunications products and services and is based in Sydney, Australia.

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