Melbourne, Australia – April 24, 2020: Linius Technologies Limited (ASX: LNU) – the only
cloud-based solution that transforms static video into hyper-personalized video experiences with its world-first Video Virtualization Engine™ (VVE) – has received firm
commitments from professional and sophisticated investors to raise $1.7 million, before
shareholder approval, which will be sought at a General Meeting of shareholders to be held as
soon as practicable.
share to raise $1.7 million, before costs. The Placement will be conducted within the Company’s
existing Listing Rules 7.1 placement capacity for 131,818,180 shares and pursuant to LR 10.11 for
22,727,270 shares in respect of share subscribed for by directors. The issue price represents a
discount of 20% to the 30-day VWAP.
immediate and sustainable revenues.
Video conferencing has become a critical requirement, enabling working from home and Business
Continuity Planning (BCP) strategies. Assisting LiveTiles in selling their Intelligent Meeting
Solution, of which Linius is the backbone OEM provider, represents a significant opportunity for
Linius, as does the broader video conferencing industry.
patents, to deliver recurring revenue growth. At the same time as the Company is focussed on
execution of its go to market strategy, it has continued to reduce monthly expenditure.
Placement (excluding director participation) is scheduled to settle on 4 May 2020.