LONDON (Alliance News) - Catenae Innovation PLC on Thursday said it has it raised funds through the issue of 118.8 million shares.
Shares in the digital media and technology provider were 2.3% higher at 0.11 pence on Thursday.
Catenae first issued 41.2 million shares at a price of 0.12 pence per share to raise GBP50,000, and will settle the existing creditor balance of GBP83,000 by issuing 29.2 million shares at 0.12 pence each and 48.0 million shares at 0.1p per share.
In addition, Catenae's Mobile Business Solutions division has signed a proof of concept agreement with an unnamed provider of building management and inspection services, which will see the integration of the Digital Asset and tracking system into the client's software application.
Also, Trust in Media has signed a proof of concept project agreement with a service provider in the Image Licensing sector, for trialling the embedding of the Digital Asset Registration and Transactional Tracking technology within the provider's operations.
"It is pleasing to see that our recently released blockchain solution is attracting interest from a number of disparate industry sectors. We will continue to look to extend the product's reach, introducing licencing models and white-label versions as the product matures. We look forward to converting the proof of concept agreements to revenue generating licences in the near future," said Chief Executive Officer Tony Sanders.
Catenae Innovation will have 2.08 billion shares overall following this share issue.