CV Check Ltd verifies NZ acquisition and cash raising

CV Check Ltd (ASX:CV1) is on track to complete a $4.3 million share placement by the end of July and wrap up the acquisition of Resumé Check, a New Zealand based screening and verification business.

The acquisition of Resumé Check will cost $1.51 million as well as performance based payments.

CV Check''s expansion into the New Zealand market will see it the group providing police checks, employment screening and tenant checks for employers and individuals.

The company already has a significant presence in the estimated $350 million verification market in Australia. CV Check’s key focus, the police check market in Australia, is worth $180 million.

CV Check uses an automated online platform that can complete an Australian national police check in just one hour.

The company has clocked an average 30% quarter-on-quarter growth in revenue over the past 8 quarters.

In addition to the share placement, CV Check is offering shareholders the opportunity to participate in a $3 million raising.

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