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- Marketing specialist Crowd Media (CM8) has entered a trading halt ahead of a capital raise
- At this stage it is unclear how much Crowd Media will raise or what the money will be used for
- Meanwhile, the tech stock will also announce a strategic investment to fast-track its Talking Head technology
- Talking Head was launched as a beta version in November to help customers choose the right product for them from U.S. skincare specialist, MD Complete
- Once fully launched, the tech can be applied to influencer marketing, ecommerce, education and more
- Crowd will remain in the trading halt until Wednesday, January 27
- Company shares last traded at 5.8 cents on Thursday, January 21
Crowd Media (CM8) has entered a trading halt ahead of a proposed capital raise.
Not only will the “material announcement” include details of a capital raise, it will also detail strategic investment to accelerate its proprietary Talking Head technology.
At this stage, it is unclear how much the influencer marketing specialist will raise or what exactly the money will be used for.
In December, Crowd confirmed it made the final payment to its senior secured lender, BillFront, which meant it was rid of that outstanding debt.
The company raised $4 million in November which gave it enough capital to pay €1.02 million (roughly A$1.6 million) in debt.
Also in November, Crowd Media launched a beta version of its “talking head” technology 12 months ahead of schedule.
The technology is set to help customers choose the appropriate product from U.S. skincare specialist, MD Complete, as part of an exclusive distribution deal.
Once fully launched, the tech can be applied to influencer marketing, ecommerce, education and more.
Crowd Media will remain in the trading halt until the earlier commencement of trading on Wednesday, January 27.
The company’s shares last traded at 5.8 cents on Thursday, January 21.
