Placement of Shortfall from Underwritten Entitlement Issue
Sydney, Nov 22, 2018 AEST (ABN Newswire) - Collaborate Corporation Limited (
ASX:CL8) (Collaborate or the Company) is pleased to advise that it has issued a further 800,000 fully paid ordinary shares (Shares) at an issue price of $0.015 per Share under the Shortfall Offer pursuant to the entitlement issue prospectus dated 14 September 2018 (Entitlement Issue Prospectus), following the reinvestment by certain non-related party underwriters of underwriting fees and interest on advances paid to them. This placement takes the total Shares issued under the Entitlement Issue Prospectus to 69,434,699 Shares and total funds raised to $1,041,521, before costs.
CEO and Executive Director, Mr Chris Noone, said "We welcome the reinvestment and continued support by the underwriters, who are also existing major shareholders of the Company."
The Shares were issued under exception 3 of Listing Rule 7.2 and therefore will not occupy the Company's 15% placement capacity pursuant to Listing Rule 7.1.
About Collaborate Corporation Ltd
Collaborate Corporation Limited is listed on the Australian Securities Exchange (ASX:CL8). It is Australia's leading listed company focused on 'collaborative consumption', 'peer-to-peer' or 'sharing economy' businesses. Collaborate currently has three core business segments: www.DriveMyCar.com.au Australia's leading peer-to-peer car rental business; www.MyCaravan.com.au Australia's leading peer-to-peer caravan rental business; and www.Mobilise.com an online hire marketplace to unlock the enormous potential of under-utilised assets. Through our proprietary trust and reputation platform, www.peerpass.com.au we create 'trust' between individuals and make it possible for people to safely transact with each other in the sharing economy.
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