Wavenet secures $1.2m for US growth

BURSWOOD-BASED wireless communication technology developer Wavenet International Ltd will raise $1.2 million through a placement to fuel further US expansion. The placement, with UK-based investment group Obelisk Nominees Ltd, is of 7.7 million shares, or 14.9 per cent of issued capital. Wavenet will apply some of the funds to further research and development, as well as strengthening its position in the pursuit of new acquisitions.

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