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CODEIFAI LIMITED — Capital/Financing Update 2024
Aug 7, 2024
64630_rns_2024-08-07_e9864d09-024b-41c2-bdcb-d65158cc3f32.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT ASX: CDE|8th August 2024
Canva integrates ConnectQR into App Marketplace & placement
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Canva’s 180m monthly active users now have access to ConnectQR through the Canva App Marketplace
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Users can now seamlessly integrate our dynamic, static and AI QR codes
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ConnectQR is now the only Canva integration for QR codes with serialisation
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Valuable route to market for CDE’s key ProtectCode[tm] & BrandReporter[tm ]
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Firm commitments received for A$600,000 placement
Brand Solution technology group Codeifai Limited (ASX: CDE) is pleased to announce a potentially high value strategic integration into the Canva App Marketplace for ConnectQR, CDE’s QR code generation and management platform.
The integration greatly boosts market access by allowing Canva users to seamlessly incorporate ConnectQR’s dynamic and static codes into their Canva designs from within the Canva App, enriching their creative projects with interactive elements that facilitate direct consumer engagement.
This launch is the most important milestone so far in ConnectQR’s development since full commercial launch in April 2024, as it makes ConnectQR readily accessible to a reported180 million monthly active Canva users.
Seamless Integration : From Canva’s App Marketplace, users can create ConnectQR codes and import them directly into Canva.
Effortless Workflow : By connecting CDE’s ConnectQR app with their Canva accounts, users can automatically display all their ConnectQR generated codes within Canva, streamlining the design process.
Interactive Designs including AI : The integration supports ConnectQR’s dynamic, static and AI codes, enabling users to add engaging, interactive elements to their visual content including ConnectQR’s AI codes.
Notably, ConnectQR is the only integrated solution offering serialised QR codes on Canva, supporting more sophisticated and individualised QR applications and as such is expected to act as an inbound sales magnet for key CDE products ProtectCode[tm] & BrandReporter[tm] .
The Company considers that while there is no immediate revenue associated with the integration into Canva’s App Marketplace, this integration is material based on the following:
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Codeifai Limited codeifai.com
Level 5 126 Phillip Street SYDNEY NSW 2000
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www.connectqr.ai the Company’s first fully self-service SaaS website was commercially launched by the Company in March 2024.
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The integration is a critical business milestone requiring a lengthy and complex technical development which has been successfully completed.
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The Company considers that by allowing access to around 180 million active users a vital new channel to revenue is created.
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ConnectQR is expected to prove a key element of the company’s profitable growth plan given its global market opportunity, self-serve SaaS model, and high incremental profitability.
The Company is also pleased to announce that it has successfully raised A$600,000 in a placement ( Placement ) to current Shareholders and new Sophisticated Investors.
The Placement comprises 2 stages, firstly the issue of 333,333,333 fully paid ordinary shares ( New Shares ) at an issue price of A$0.0015 per New Share to professional and sophisticated investors. The issue of these New Shares is pursuant to the Company’s capacity under ASX Listing Rule 7.1. The New Shares will rank pari passu with existing shares on issue. The first stage New Shares are expected to be issued on Friday August 9[th] 2024. Subject to shareholder approval, investors in New Shares will also be issued 333,333,333 free attaching options (exercise price A$0.003 strike, expiring 30 months from date of issue to be determined following shareholder approval) on the basis of one free attaching option for every one New Share subscribed for under the Placement.
A second stage will comprise the issue of 66,666,666 New Shares at an issue price of A$0.0015 per New Share (Stage 2 New Shares) to members of the Board and Management of CDE on the same Terms as the New Shares, subject to shareholder approval, investors in Stage 2 New Shares will also be issued 66,666,666 free attaching options (exercise price A$0.003 strike, expiring 30 months from date of issue to be determined following shareholder approval) on the basis of one free attaching option for every one Stage 2 New Shares subscribed for under the Placement. These Stage 2 New Shares will also be subject to shareholder approval at a meeting to be called.
Brokers that assisted are entitled to a fee of 6% and subject to shareholder approval, the issue of 10,000,000 options (exercise price A$0.003 strike), expiring 30 months from the date of issue.
CDE will convene a shareholder meeting to seek shareholder approval for the issue of the Stage 2 New Shares and the free attaching options under the New Shares Placement, the Stage 2 New Shares and the issue of options to 180 Markets as part of its fees for managing the Placement. The funds from the Placement will be used by CDE for Technical development, General working capital, Trade Creditors, Marketing and costs associated with the Placement.
CDE Executive Chairman and Group CEO John Houston said: “The integration of ConnectQR into the Canva App Marketplace is a significant milestone for Codeifai. It not only greatly broadens the reach and elevates the prominence of a likely high growth product, but it enhances the credibility of and market access for the company’s entire product range. This is likely to prove an important step in driving the company’s revenues and future financial performance. We are also appreciative of investors’ commitments to subscribe into the placement.”
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Codeifai Limited
Level 5 126 Phillip Street SYDNEY NSW 2000
codeifai.com
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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
Level 5 126 Phillip Street SYDNEY NSW 2000
codeifai.com