ClearVue Technologies underwritten SPP to raise $2 million

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.
 
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Source: Finance News Network