Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Motopia Secures Underwriting For Convertible Notes

Motopia (ASX:MOT) has secured an underwriting agreement with Siwel Capital for $350,000 worth of convertible notes that covert at a price of $0.002.

The notes, which are being issued as part of its all-scrip acquisition of Priority Processing Systems, will be subject to shareholder approval at the EGM likely next month.

An independent experts report on the proposed acquisition of PPS is also imminent after the company engaged Nexis Melbourne to prepare the report.

The acquisition is also subject to ASX and shareholder approval.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.