viewOpyl Ltd

ShareRoot raises more funds to advance digital health opportunities

Completion of the capital raising places the company in a strong position to grow over the next 12 months and beyond.

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The company is planning to rename itself

ShareRoot Ltd (ASX:SRO) has raised a further $780,000 following a rights issue which closed earlier this month after raising $509,612.

$444,731 was raised via the issue of 444,731,041 shortfall shares at an issue price of 0.1 cents per share to institutional, sophisticated and professional investors under the shortfall facility of the rights issue.

$335,269 was raised via the issue of 335,268,959 placement shares at an issue price of 0.1 cents per share to institutional, sophisticated and professional investors.

Funds raised will be used for the following purposes:

• scale the existing revenue-generating digital client services capabilities and capacity;
• complete and launch new technology products and roll out marketing campaigns;
• continue development of MediaConsent Clinical; and
• re-name ShareRoot to reposition the company within the target market.

READ: ShareRoot signs three new clients for its AI-powered digital health insights platform Opyl

ShareRoot’s digital health insights platform Opyl utilises digital tools, custom designed algorithms artificial intelligence and machine learning to access data, create meaningful groups within the data and then search and analyse the data for significant patterns.

Quick facts: Opyl Ltd

Price: 0.155 AUD

Market: ASX
Market Cap: $5.72 m

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