By Susanna Moon
Chicago, July 3 - My Net Fone Ltd. said it raised A$1 million in two stock placements on June 28.
The company issued two placements of 2,777,778 shares at A$0.18 each, with 5,555,556 attaching options exercisable at A$0.25 until April 30, 2009.
One issue was placed with professional investors. The second issue was placed with Symbio Networks Pty Ltd., a related party to My Net Fone Ltd.
The second placement will convert Sybio debt into My Net Fone equity and is subject to shareholder approval.
Proceeds from the placements will be used for working capital, the company said in a press release.
My Net Fone is a voice and data service provider based in Surry Hills, Australia.
| Issuer: | My Net Fone Ltd.
|
| Issue: | Stock
|
| Amount: | A$1 million
|
| Shares: | Two placements of 2,777,778 shares each
|
| Price: | A$0.18
|
| Attaching options: | 5,555,556 for each placement
|
| Option expiration: | April 30, 2009
|
| Option strike price: | A$0.25
|
| Pricing date: | June 28
|
| Stock symbol: | Australia: MNF
|
| Stock price: | A$.155 at close June 27
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
