Locate Technologies (ASX: LOC) raised AU$316,500 through its at-the-market facility with Novus Capital, issuing 2.4 million shares to support balance sheet strength, according to a Monday filing with the Australian bourse.
Shares were issued at an average price of AU$0.132 each to replenish collateral shares previously issued to Novus using the company's 15% placement capacity, the filing said.
The funds will bolster the company's balance sheet per its treasury management policy, the filing added.
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