29th May 2015 08:35
LONDON (Alliance News) - Wearable devices company CloudTag Inc on Friday said it has issued two tranches of shares, one to cover a conversion under an existing loan note deal and one to cover the settlement of fees owed to directors.
CloudTag has issued 34 million shares under the convertible loan deal worth GBP850,000, giving the shares a conversion price of 2.5 pence per share.
CloudTag also has issued 1.9 million shares at 3 pence per share to cover fees owed to Chief Executive Amit Ben-Haim and fees owed to an unnamed third party.
Shares in CloudTag were untraded on Friday morning, having last traded at 3.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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