Multiemedia receives A$10 million equity line

By Sheri Kasprzak

Atlanta, April 14 - Multiemedia Ltd. said it has received A$10 million in an equity line.

The company entered into a standby equity distribution agreement with Cornell Capital Partners Offshore LP.

The exact terms of the agreement could not be determined Thursday.

Based in Victoria, Australia, Multiemedia is a satellite and communications technology company.

On Thursday, the company's stock closed unchanged at A$0.022.

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