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WAY 2 VAT LTD. — Capital/Financing Update 2024
Jun 17, 2024
66030_rns_2024-06-17_b8c1bf01-b912-43dc-8f4a-0342e233d21d.pdf
Capital/Financing Update
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ASX release
18 June 2024
Update to Tranche 2 Placement
Way2VAT Limited (ASX:W2V) ( Way2VAT or the Company ), refers to its ASX announcements on 17 and 22 April 2024, which detailed (amongst other matters) that a participant in the Tranche 2 Placement, had failed to provide the requisite funding to settle its allocation amount of $500,000 under Tranche 2 of the Placement.
Despite the participant, BMYG Capital Pty Ltd ( BMYG ), having agreed to settle its allocation on 20 May 2024 and a further extension until 14 June 2024 having been granted, BMYG has failed to settle and pay its allocation amount of $500,000.
The Company has engaged Australian litigation counsel and intends to seek legal recourse against BMYG in respect to this matter.
ENDS
Authorised for release to the ASX by the Board of Way2VAT.
For more information, please contact:
Amos Simantov
W2V Founder & CEO [email protected]
About Way2VAT
Way2VAT is a global fintech leader in automated VAT/GST claim and return solutions in over in 40 countries and in over 20 languages, serving hundreds of enterprise businesses worldwide. Way2VAT owns and operates a patented artificial intelligence technology that powers the world’s first fully automated, end-to-end VAT reclaim platform.
Established in 2016, Way2VAT is headquartered in Tel Aviv with offices in the United Kingdom, Spain and Romania and has over 60 employees.
It is used by more than 365 global enterprise companies.
www.way2vat.com