31st Jul 2014 12:00
LONDON (Alliance News) - Milestone Group PLC said Thursday that it had raised GBP694,363 in cash and settled GBP10,000 worth of trade creditors, through the issue of 70.4 million shares at 1 pence each.
The company said it plans to use the funds to commercialise its product range that has started to become revenue generating.
It will use the funds to develop a digital version of 'Disorder Magazine,' marketing and distributing educational product 'Winning in the Game of Life,' continuing momentum of its Passion Project, and funding key new staff.
Milestone said that its product range now needs specific skill sets to generate revenues and provide support levels for customers and end users. As a result, it will need to recruit additional staff.
Shares in Milestone were trading up 28% at 0.800 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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