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- YPB Group (YPB) secures $2 million through a share placement to pay off debts, develop its tech, market products, and support ongoing business operations
- Under the placement, YPB will issue new shares at 0.44 cents to raise the funds, subject to shareholder approvals
- Investors will receive one free attaching option, with a 0.5-cent strike price and expiring 12 months from their issue date, for every share purchased
- Shares in YPB are trading at 0.5 cents at 2:31 pm AEDT
YPB Group (YPB) has secured $2 million through a placement to pay off debts, develop its tech, market products, and support ongoing business operations.
Under the placement, YPB will issue just over 450 million new shares at 0.44 cents to raise the funds, subject to shareholder approvals.
Executive Chairman John Houston has committed to invest $500,000 as part of the raise.
If shareholders approve, investors who subscribe for YPB shares under the placement will receive one free attaching option, with a 0.5-cent strike price and expiring after 12 months, for each share purchased.
YPB said it would use the funds to make payments to NVISO under its artificial intelligence (AI) licence agreement, development costs for its applications, and business development.
YPB develops and sells physical, digital, and AI-based authentication technologies.
The tech is designed to authenticate FMCG (fast-moving consumer goods) products, official identification documents, pharmaceuticals and nutraceuticals, dairy products, tax stamps, transactions, and more.
Shares in YPB were trading at 0.5 cents at 2:31 pm AEDT.
