The company (ASX:OLV) received AUD 3.2 million of development capital from undisclosed investors on June 22, 2016, through a private placement. The placement will feature the issue of 22.9 million shares at a price of AUD 0.07 for each placement share. The company has also entered into an agreement with Richard Hannebery to raise AUD 1.6 million through a subscription of shares. The subscription will include the issue of 20 million shares at a price of AUD 0.08 for each subscription agreement share, with the settlement date confirmed as October 28 this year. The company will use the funding for further growth and expansion.
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