Cloudtag has raised £975,000, gross, through a subscription for 26,000,000 new ordinary shares at 3.75p apiece.
The Subscription was completed with the clients of Novum Securities Limited, a London based financial institution.
The net proceeds of £916,500 will be used for general working capital purposes.
The company is pre-revenue generating and is dependent on its ability to raise further capital to continue its operations in the short term.
At 9:07am: (LON:CTAG) Cloudtag Inc share price was -1.75p at 3.13p
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