Nedlands based digital movie and internet business Ezenet Ltd has raised over $1 million through a placement of 7.5 million shares to UK based investment company Matterhorn Investment Management LLP.
In an announcement to the ASX, Ezenet said the capital raised would be used to fund new installations in the company's core markets.
The company, which raised $425,000 through a convertible notes issue in July, also owns 18.2 million shares in London-based mineral company Weatherly International plc.
The full announcement is pasted below
Ezenet Ltd is pleased to announce that it has raised approximately $1,050,000 through a placing of 7,500,000 new shares to Matterhorn Investment Management LLP of the United Kingdom at an issue price of $0.14.
The placing agreement was reached at a time that shares in Ezenet were trading at $0.12.
Matterhorn is a London based institutional investment management fund and will provide a strong presence on Ezenet share register. Matterhorn is the largest share holder in Weatherly International PLC in which Ezenet is a share holder with 18.2 million shares.
The digital movie and internet business of Ezenet is undergoing a phase of high growth and the capital raised will be used to fund new installations in the company's core markets.
