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PCG Entertainment completes fundraising as it updates on business

The AIM-listed gambling group said it had raised a total of £303,000 before expenses through the placing of around 202mln new shares at a placing price of 0.15p each
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Part of the proceeds would be paid to D-Beta as part of an equity sharing arrangement

PCG Entertainment Plc (LON:PCGE) has completed a fundraising through the placing of new shares as it issued an update on its current business.

The AIM-listed gambling group said it had raised a total of £303,000 before expenses through the placing of around 202mln new shares at a placing price of 0.15p each.

WATCH: PCG Entertainment raises £303k; updates on business plan

The firm added that around £118,855.33 of the placing proceeds would be paid to D-Beta One EQ Ltd as part of an equity sharing arrangement which the company said was to be terminated in a separate announcement.

In a business update, the group said it was currently in discussions with Dubai based Cavitation Solutions Ltd to distribute their cavitation technology in China and elsewhere in Asia.

PCG added that it was continuing its discussion with ChainZy, a blockchain platform, on the possibility of ChainZy using PCGE's infrastructure in Asia to distribute its technology in the region which may involve PCGE making a pre-IPO investment in ChainZy Plc.



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