(MENAFN- ABN Newswire) Sydney, Feb 19, 2018 AEST (ABN Newswire) - The Board of TopBetta Holdings Limited () ("TopBetta" or the "Company") is pleased to announce that the Company has received firm commitments to subscribe for 3,508,771 fully paid ordinary shares ("Placement Shares") to raise AUD$1M at 28.5 cents per Placement Share from sophisticated and institutional investors ("Placement").
The Placement is expected to be completed within 5 business days and the Placement Shares will be issued without disclosure under the Company's placement capacity under ASX Listing Rule 7.1.
Funds received will be used primarily for working capital and to strengthen the Company's future cash flow obligations.
About Topbetta Holdings Ltd
() is licensed to conduct race wagering and sports betting under the Bookmakers and Betting Exchange Act 1998 (Northern Territory).
The Company has built proprietary technology platforms that combine an online racing and sports wagering offering with a fantasy wagering platform and enables sports fans to compete against each other via online tournaments.
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