Mikohrunning low on cash but seems to have received enough to now to get cash flow from the Thai project.....
New York Private Investment Fund Invests in MIKOH
The Board of MIKOH Corporation Limited (ASX: MIK) is pleased to advise that it has
executed a term sheet with Kodiak Capital Group, LLC (Kodiak) to take a placement
of shares in MIKOH to the value of US$800,000 (approximately A$750,000).
The principle terms of the placement are:
• The shares will be issued at a 15% discount to the lowest daily VWAP for the 5
consecutive days following the effective date of the transaction, which is upon
execution of legal agreements (expected to be within the next week);
• A commitment fee of 2,000,000 fully paid shares at an issue price of 2 cents each
will be issued immediately.
Directors are pleased to welcome to the register of MIKOH a strong and supportive
shareholder such as Kodiak. This investment represents a turning point for MIKOH
allowing it to pursue its EVR strategy in Thailand.