Addvalue Technologies aborts share placement agreement with KGI Securities

SINGAPORE (June 19): Addvalue Technologies and KGI Securities (Singapore) have mutually agreed to terminate with immediate effect the placement agreement announced on April 30.

As placement agent, KGI was to help Addvalue find subscribers for up to 250 million new shares in the company at 4 cents each to raise $10 million.

However, Addvalue says it is in talks with a couple of investors for alternative funding arrangements, including but not limited to such investors taking up of a significant stake in the company.

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