Mobilicom (ASX: MOB) completes $3.725M placement of new shares

Highlights

• Mobilicom Limited has successfully completed a $3.725m placement of new shares.
• The placement will assist to accelerate Mobilicom’s expansion and large projects with key partners including Airbus, Yuneec and the Israel Innovation Authority.
• The placement of the $3.725 million ordinary new shares was conducted at $0.10 per share.

Mobilicom Limited has successfully completed a $3.725m placement of new shares with participation from new and existing investors across Australia and international markets, including Mobilicom’s Non-Executive Director Mr Jon Brett. The placement of ordinary new shares was conducted at $0.10 per share.

The placement will assist to accelerate Mobilicom’s expansion and large projects with key partners including Airbus, Yuneec and the Israel Innovation Authority. It will additionally fund further business development in items such as Mobilicom’s new drone upgrade, operating costs, R&D and sales and marketing activities.

About Mobilicom Limited (ASX: MOB)

Mobilicom designs, develops and markets solutions for mission-critical and remote mobile private communication networks without the need for, or use of, any existing infrastructure. Mobilicom’s products and technology merge 4G communication with Mobile MESH technologies into a unified solution, with several product families that have been commercially deployed. Mobilicom’s SkyHopper entity targets the Professional, Commercial and Industrial UAV market.

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