ACE has issued 2.35 million new shares at a price of $0.029 each, raising $68,150 in aggregate to fund the Company's working capital requirements.
The placement was made to a number of wholesale investors and a Capital Change Notice accompanies the announcement.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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