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ION VIDEO LTD — Capital/Financing Update 2022
Nov 22, 2022
65133_rns_2022-11-22_69be1d01-8c50-4ca2-825c-65f06f50d0a1.pdf
Capital/Financing Update
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ASX Announcement | 23 November 2022
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Linius Raises Additional $153,210
Melbourne, Australia – 23 November 2022: Linius Technologies Limited (ASX: LNU) (Linius or Company) – the only cloud-based solution that transforms static video into hyper-personalised video experiences with its world-first Video Virtualization Engine™ (VVE) – has received firm commitments to raise $153,210, before costs under its existing LR7.1A capacity, in addition to the $631,500 in capital raised from professional and sophisticated investors announced on 22 November 2022.
This will result in the issue of an additional 51,069,960 fully paid ordinary shares at $0.003 per share, representing a discount of 10.1% to the 15-day VWAP and meeting the requirements of LR 7.1A.3 in being greater than 75% of the 15-day VWAP. The shares issued will rank equally with existing Linius fully paid ordinary shares on issue.
The placement is also scheduled to settle on 29 November 2022 with allotment on 30 November 2022.
This announcement has been approved for release to ASX by the Board of Directors of the Company.
About Linius Technologies Limited:
Linius’ purpose is to elevate the educational, information, and entertainment value of the world’s video through hyper-personalisation. We make it possible to connect and search vast libraries of video so users can create an infinite amount of personalised video compilations on-the-fly, providing the most relevant content to each viewer.
Our patented Video Virtualisation Engine™ (VVE) turns big, bulky video files into lightweight, searchable data that is enriched with AI and ML, making it easy and efficient for users to find and share what matters to them. Creators and owners of video can drive greater viewing, and ultimately monetisation of their video assets.
For more on Linius Technologies, visit www.linius.com
For further information, please contact: James Brennan, CEO, +61 (0)3 8672 7186 or [email protected]
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Linius Technologies Limited (ASX: LNU) ACN 149 796 332 Level 2, 431 St Kilda Road, Melbourne VIC 3004Australia t: +61 3 8672 7186 / e: [email protected]