Locate Technologies (ASX:LOC) raised AU$168,915 via the placement of about 1 million shares at an average price of AU$0.166 per share, according to a Monday filing with the Australian bourse.
The funds raised will be used according to the company's treasury management policy, the filing said.
Shares of the company rose nearly 27% in recent Monday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.