re: Ann: Private Placement to Raise $1.4m at ... 7c."The Company...

re: Ann: Private Placement to Raise $1.4m at ... 7c.

"The Company has today allotted a total of 20,000,000 shares to Eye Investment Fund Ltd at a price of $0.07 in a non-brokered private placement.

This raising represents a premium of 16% to the last trading price on 13 August 2010 of $0.06. The cash injection bolsters Azimuths cash position to approximately $5.0m and increases the ownership of the Company by management, institutions and corporate to 58%."