Data security product developer DataMotion (ASX:DMN) has raised $160,000 in a share placement.
The company has placed 200 million ordinary shares at an issue price of 0.08 cents per share to sophisticated investments.
The shares had been issued without disclosure to investors under legislation allowing companies to issue up to 15% of their share capital in new shares without consultation.
DMN shares are currently trading at $0.001.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.