ORREX RESOURCES LTD Nvoi Limited ("Nvoi", "the Company"), previously Orrex Resources Limited ("Orrex") is pleased to announce the successful completion of its public offering and settlement of the transaction in which it acquired Nvoi AsiaPac Limited (previously known as Nvoi Limited).
Under the public offering by Orrex, a total of 133,333,333 new shares were issued at $0.06 per share to raise a total of $8 million.
The shareholders of Orrex agreed to change its activities from a mineral exploration company to a global cloud-based, staffing intermediation platform for workers/candidates and businesses/hiring managers in the on-site, white-collar, contingent (non-permanent) workforce to find, engage, assess, and contract through Nvoi with each for non-permanent work assignments.
In order to facilitate this, the Company entered into agreements to acquire 100% of Nvoi AsiaPac Limited. Upon completion of the transaction, Orrex changed its name to Nvoi Limited, and the Board and management of the Company changed to reflect the new direction of the Company.
Trading in shares in Orrex was suspended on 4 May 2016, until the offer closed and the corporate structural changes were made. Nvoi is now in the process of requalifiing for quotation by satisfying all the conditions under the Corporations Act and the ASX Listing Rules.
For further information, please contact Andrew Bursill, Company Secretary on (02) 9299 9690
Andrew Bursill Company Secretary Nvoi Limited20 Howard Street Perth WA 6000 PO BOX Z5207 | Tel : 08 6144 0590 Fax: 08 6144 0593 | ASX: ORX ACN: 107 371 497 |
St Georges Terrace WA 6831 |
Orrex Resources Ltd. published this content on 28 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 June 2016 09:40:05 UTC.
Original documenthttp://www.orrexresources.com/irm/PDF/1219/NvoiTransactionUpdate
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