XReality Group Limited (ASX: XRG) announced that it has completed the share placement to institutional and sophisticated investors. Under the placement, total of 39,375,000 shares were issued at $0.032 per share to raise $1.26 million.
The funds raised under the share placement will be used to pre-order equipment, supplies and inventory to support the commercialization of company’s Global Defence VR training system, OP-1 Tactical Trainer. The company is in the advanced commercial discussions with various customers, and the additional funding will ensure that the business is prepared to fulfil expected orders.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
