Reclaim completes Rision acquisition

Reclaim Industries is set to be reborn as a staffing technology company after completing a $6 million capital raising as part of its acquisition of Rision.

Reclaim issued 300 million shares at 2 cents each to raise $6 million from the public offer, while 200 million ordinary shares and 50 million performance shares were issued to the vendors of Rision.

The company has also changed its name to Rision and its ticker code on the ASX will be changed tomorrow.

“The company is currently finalising all outstanding ASX conditions for reinstatement and will update the market once a reinstatement date has been confirmed,” it said in a statement.

Rision’s operational products include: ’JobMatch’, which enables employers to hire new staff without having to use a jobs board or staffing/labour hire companies; ‘Roster’, a mobile scheduling system; ‘LastMinute’, which provides a way to fill shifts at the last minute when rostered staff can’t work; and ‘TimeSheet’, which tracks hours worked and integrates payroll services.