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RAIDEN RESOURCES LIMITED Capital/Financing Update 2006
65675_rns_2006-11-29_4f308fae-a890-4fb5-a36d-966dc00cd4d1.pdf
Capital/Financing Update
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30 November 2006
Company Announcements Office Australian Stock Exchange Ltd Sydney 2000
RE: \$3.5 million funding for Medical Monitors (ASX:MDM)
The Directors are very pleased to confirm that a \$3.5 million funding facility has been arranged by way of convertible notes placed with sophisticated private investors.
The Convertible Notes will have a coupon value of 8% and a term of three years. The conversion to equity will be at a value of 10% discount to the prevailing market.
The funds will be used as working capital to continue our strategy of developing new business in health packages and monitoring, particularly through the purchase of income producing 'over 50s' resort lifestyle villages as recently announced.
Medical Monitors has already achieved significant sales and marketing opportunities that have been created internationally, through its distribution agreement with Primedical International, and continues to progress a number of opportunities in the Australian market.
Dr Allan Shell Managing Director
Medical Monitors Limited Suite 407 Office Tower Westfield Eastgardens Eastgardens NSW 2036 Australia Tel 02 9344 8100 Fax 02 9344 8200