• Singapore stock market and companies daily report (YuuZoo Corporation) (September 07, 2015)

    YuuZoo Corporation announced that it has secured access to a $30 million funding facility from New York based private alternative investment group, GEM Global Yield Fund.

    The $30 million will be in the form of a capital commitment which allows the group to drawdown funds during the three year term of the agreement by issuing ordinary shares to GEM Global at a price per share which represents a 10 percent discount on the groupís closing price on the date such drawdown.

    The group has also agreed to issue 55 million warrants to GEM Global each carrying the right to subscribe for one new ordinary share in the group. The warrants will be issued within 60 days of the group obtaining shareholder approval for the agreement. The warrants will be exercisable for a 5 year period from the issue date at an initial exercise price of $0.70 each which will reset to 110 percent of the share price after 12 and 24 months from the date of the agreement.

    Contributed by Shares Investment
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