- YPB Group (YPB) has received commitments from investors for a $600,000 placement
- A total of 100 million shares will be priced at $0.006 apiece
- EverBlu Capital is Corporate Adviser and Lead Manager and will receive six million shares and a six per cent fee on the amount raised
- Funds raised will be used for the technical development of Motif Micro and the Connect Platform, costs related to the placement, and general working capital purposes
- YPB has ended the day 14.3 per cent in the red with shares trading for 0.6 cents apiece
YPB Group (YPB) has received commitments from sophisticated and professional investors for a $600,000 placement.
A total of 100 million shares will be issued at a price of $0.006 per share which represents a 15.1 per cent discount to the 15 day volume-weighted average price.
The company will not seek security holder approval for the issue of the shares.
EverBlu Capital is Corporate Adviser and Lead Manager in relation to the placement and will receive six million shares and a six per cent fee on the gross amount raised under the placement.
Funds raised under the placement will be used for the technical development of Motif Micro and the Connect Platform, pay for costs related to the placement, and general working capital purposes.
“I thank our placement participants for their support and welcome them to our register,” CEO John Houston said.
“The funds raised will advance the further development of our key Motif Micro and Connect technologies while we accelerate revenue generation from existing and recently signed clients together with our numerous mature prospects,” he added.
Motif Micro is YPB’s multi-patented, high-security and invisible-to-the-eye smartphone-readable anti-counterfeit technology.
In early September, the company achieved a breakthrough in this technology in which it can now read authentication marks on curved surfaces and signed a second contract in early December with a Thailand company.
YPB’s Connect platform was launched in 2015 as a way for brands to engage with customers. It was predicted that this tech would become vital in a world where e-commerce and border trade is rapidly growing.
It’s sold on a monthly subscription basis and the codes are sold on a per unit basis.
YPB Group has ended the day 14.3 per cent in the red with shares trading for 0.6 cents apiece