LINIUS TECHNOLOGIES LIMITED (ASX: LNU)
SUITE 13, LEVEL 3, 299 TOORAK ROAD,
SOUTH YARRA, VIC 3141 AUSTRALIA t: +61 3 8672 7186 / e: [email protected]
Linius Raises $3.5 Million
Melbourne, Australia – April 8, 2019: Linius Technologies Limited (ASX: LNU) – the only
The Placement includes an approximately $1million investment from Linius directors, subject to shareholder approval, which will be sought at a general meeting of shareholders to be held as soon as practicable.
The Placement received strong support from new investors together with existing shareholders, including Robert Kirby AO, Executive Chairman of Village Roadshow.
The Placement will result in the issue of 100,000,000 fully paid ordinary shares at $0.035 per share to raise $3.5 million, before costs. The Placement will be conducted within the Company’s existing Listing Rules 7.1 and 7.1A placement capacity, namely 93,559,000 shares issued pursuant to LR 7.1A and 6,441,000 shares issued pursuant to LR 7.1. The issue price is higher than the minimum price requirement pursuant to LR 7.1A.3 and represents a discount of 18.7% to the
Linius will use the proceeds of the Placement to fund continuing operations along its three- pronged strategy for achieving its vision of making all the world’s video accessible as data:
•Linius Video Services — Linius’
•Partners — to scale the distribution and sale of solutions built on LVS and VVE, exemplified by the recent announcement of Linius’ admission to Microsoft’s
•Direct Sales — to prove solutions and business models in key verticals, including sports, news and media, education, sports gambling, and corporate communications.
In conjunction with previously communicated lower quarterly
Blue Ocean Equities Pty Limited (AFSL 412765) acted as lead manager for the Placement.
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DATE OF RELEASE: 10:00AM AEST, MONDAY 8 APRIL 2019
About Linius Technologies Limited:
Linius Technologies Limited (ASX: LNU) has invented and patented the Video Virtualization Engine™ (VVE), which is available on Amazon Web Services, Microsoft Azure and IBM Cloud.
Amazon, Microsoft and IBM are investing billions in virtualizing ‘video services’ (technologies) and Artificial Intelligence in the cloudiv. It is arguably the biggest battle on the internet, given that video accounts for nearly 80 percent of internet trafficv.
Only Linius can expose the data that makes up the video file, making cumbersome video as flexible as all other forms of data. Accessing the data within the video file is the missing link for video cloud service providers, creating unparalleled value across the internet video industry.
Linius is revolutionizing the way organizations and individuals across the globe produce, deliver and consume video, enabling previously impossible
It’s a breakthrough set to disrupt entire
For more on Linius Technologies, visit www.linius.com
Follow Linius Technologies on Twitter (@linius_tech), LinkedIn (Linius Technologies Ltd), Vimeo (Linius Technologies) and Facebook (@linius).
For further information, please contact:
Linius Technologies: Chris Richardson, CEO, +61 (0)3 8672 7186 or [email protected]
iiLinius Technologies Limited, Linius Technology Overview: https://www.linius.com/video/
iiiLinius Technologies Limited, Linius boosts global reach with admission to Microsoft
ivRS Components, The Race for AI:
vCisco, Cisco Visual Networking Index: