CIO, Quickflix announce placements

Internet-based services companies (ASX:MKB) and Quickflix (ASX:QFX) on Thursday both announced they had raised funds through share placements.

Online DVD rental company Quickflix said it had completed a placement of 55 million shares to raise nearly $4.7 million.

The proceeds from the $0.085 per share placement will be put towards realising Quickflix' online streaming ambitions, and to fund sustained growth.

Mobile social networking company meanwhile disclosed that it had secured $2.2 million so far from a round of placements first mooted in May.

Parties including Swiss and US based investors have committed to buy into the company at $0.07 per share, with one additional 10c option for each share issued, said.

The company added it had received shareholder approval to make more placements at the same terms. When it announced the planned raising in the May, said it would place up to $5 million worth of shares.

QFX shares fell 13.04% on Thursday to $0.100, while MKB shares stayed flat at $0.060.