Placement of new shares

ACE advises that it has issued 2,350,000 new ordinary fully paid shares in the Company at an issue price of $0.029 per share. The initiative has raised $68,150 in aggregate. The placement has been made to a number of wholesale investors.

The funds raised from the placement will be utilised to fund the ongoing working capital requirements of the Company whilst it continues to undertake investigations to find a suitable business initiative to acquire via a reverse takeover transaction.

A Capital Change Notice accompanies this announcement.

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Announcement PDF