The Marketing Group PLC (NASDAQ OMX:TMG), which trades as RYVL, said the unconditional share placing announced on 6 December linked to its acquisition of Blockchain Nordic has been completed.
Under the unconditional placing, which is not subject to shareholder approval, the company said 13,000,000 shares were issued at a price of €0.0225 each to raise €292,500.
Meanwhile, it said, the conditional placing of 18,112,000 units - comprising one share and one warrant to subscribe at €0.05 for a share at a per unit price of €0.0225 – which is subject to shareholder approval, is expected to close shortly and has received subscriptions covering a “substantial proportion” of amount.
Adam Graham, The Marketing Group’s executive chairman, said: "We are delighted with the investor support shown for the fund raisings. These funds together with the acquisition of Blockchain Nordic will provide a powerful springboard for the Group to launch into 2019 with increased scale, renewed focus and positive momentum.”