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CODEIFAI LIMITED — Capital/Financing Update 2024
Aug 8, 2024
64630_rns_2024-08-08_b0a3f2ff-2e74-4f78-b70a-0e6352e7d16b.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT ASX: CDE|9th August 2024
Termination of July private placement
Brand Solution technology group Codeifai Limited (ASX: CDE) advises that the Private Placements ( Placements ) announced July 5[th] , 8[th] and 23[rd] July have been terminated at the Company’s election.
The Placements announced were to Sophisticated Investors Mr James Chen (Jii Wei-Tend Si Smith Chen) and Ms Helen Ding (Chang Ping Ding).
The Company has resolved to terminate the agreements with both investors effective immediately.
The Company has decided that with the completion of the placement announced yesterday 8[th] August, the dilutive effect of the size and pricing of these placements at this time is not in the best interests of shareholders. Additionally, the Company’s strategy of focussing on Digital First Engagement First with ConnectQR, ProtectCode and BrandReporter products is better executed by terminating these Placements.
The Revised Appendix 3B will be cancelled accordingly, to reflect this.
This announcement has been authorised by the Board of Codeifai Limited.
Ends. For further information please contact:
CDE investor enquiries Ben Jarvis [email protected] 0413 150 448 [email protected] Six Degrees Investor Relations
About Codeifai Limited
Codeifai Limited (ASX: CDE) is listed on the Australian Stock Exchange and has developed and sells of a suite of physical, digital and AI-based Brand Solutions with a vast range of applications. Our solutions allow Brands to Connect Deeper, Faster, Smarter with their consumers.
Codeifai’s digital Brand Solutions provide a code for everybody and everything.
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Codeifai Limited codeifai.com
Level 5 126 Phillip Street SYDNEY NSW 2000