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G Medical Innovations: Receives firm commitments for $5M placement

  • Telehealth company G Medical Innovations (GMV) has received firm commitments to undertake a $5 million placement
  • To raise the funds, 100 million fully-paid ordinary shares will now issued to institutional and professional investors at a price of five cents each
  • Shares are expected to issue on or around August 13
  • G Medical will also use the money to scale-up its Independent Diagnostic Testing Facility (IDTF) operations
  • The money will also go towards increasing its U.S. sales team
  • G Medical is down 14.3 per cent and shares are trading for 5.4 cents each at 12:54 pm AEST
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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