X2M Connect Limited (ASX:X2M) Completes $0.362 Million Placement
Capital Raise Completion
X2M Connect Limited (ASX: X2M) has completed a capital placement of $0.362 million. The company issued 14.48 million shares at $0.025 per share, with investors receiving a free attaching unlisted option for each share. The unlisted options have an exercise price of $0.05 and will expire two years from the issuance date. Proceeds from this capital increase will support customer support, infrastructure, business development, marketing, and working capital needs.
New Contract in Taiwan
In addition to its capital raise, X2M has secured a contract with Heying International Co., Ltd in Taiwan. Under this agreement, X2M will provide a centralised management solution for over 100 solar sites managed by Heying. This innovative solution will allow for a single user interface to monitor alerts, status, and generation metrics across various solar solutions, addressing several operational challenges for Heying.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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