TikForce set for ASX debut

Perth-based Palace Resources is one step closer to becoming a tech company, after completing a $4.5 million capital raising as part of a reverse takeover of TikForce.

Palace announced today it had secured more than the minimum amount required as part of the acquisition, and would now proceed to have the company’s name changed to TikForce and relist on the ASX under the target’s business model.

TikForce is working towards commercialisation of its ‘disruptive’ human resources and compliance technology, which the company plans to roll out across Australia, New Zealand, the US, Singapore and the UK.

“We are very excited to close the fund raising, which will allow TikForce to become a fully sustainable business within 18 months,” TikForce chief executive Kevin Baum said.

“Our platform is different from most in that we are not trying to eliminate the HR professional.

“Rather we are seeking to provide those at work in the field with the tools to enhance their strategic business contribution.”

TikForce hopes to begin trading on the ASX by the end of the month.