ClearVue Technologies underwritten SPP to raise $2 million

Company News

by Rachael Jones

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Last Updated: 6/12/2019 10:03 AM

Smart building materials company ClearVue Technologies (ASX:CPV) has launched an underwritten Share Purchase Plan to raise $2 million before costs and a proposed placement targeted to raise up to an additional $2 million.

The funds will primarily be used to service and advance the Company’s global sales and marketing efforts, its research and development programs, intellectual property portfolio protection, operating expenses and working capital.

The SPP is underwritten by Patersons Securities, CleaVue has granted Patersons the right to raise up to an additional $2 million through the Top-Up Placement.

Shares in ClearVue Technologies (ASX:CPV) are trading 17.5 per cent lower at $0.17.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.