Online education publisher KNeoMedia has confirmed the successful placement of 32.5 million shares to sophisticated investors and licensed security dealers at $0.022 per share.
This will raise $715,000, before costs, and will be used to advance sales and business development activities in the United States following successful product distribution partnerships in Florida and Arizona.
KNeoMedia is an online-education, publishing company which delivers games based learning programs to educational markets.
Programs are created and reflected on all types of learning ability and include literacy, maths, science, and arts.
There is also critical thinking and life skills to address daily skills and also the social and emotional skills needed to navigate the world.
Chief Executive Officer James Kellett hopes this program will benefit children in other countries.
“The team has worked hard to broaden awareness of our education content across the United States, as well as other markets, and this funding will help us strengthen our rapidly expanding sales pipeline in special needs and general elementary education. Sales are also starting to materialise in other US States, the United Kingdom, and the Philippines,” he said.
This product will not only give children the opportunity to succeed but also keeps up to date with the advances in technology and connectivity.
Please find announcement attached here: https://hotcopper.com.au/data/pricesensitive/announcements/ASX/3A514578_KNM.html