Overview of Powerhouse Ventures' capital raising for Site Group International Limited

Site Group International Limited (ASX:SIT) has successfully completed a capital raising of $800,000 through a placement to sophisticated and professional investors. The placement involved the issuance of 400 million fully paid ordinary shares at a price of $0.002 per share. Powerhouse Ventures Limited (ASX:PVL) played a key role in structuring and arranging the placement, committing to a cornerstone investment of $300,000 and receiving an arrangement fee in SIT scrip of 50,000,000 fully paid ordinary shares. Additionally, PVL has been retained by Site for 2 years on arms-length retainer terms to assist with investor relations and general corporate finance strategy.

Executive commentary on the capital raising

The capital raising represents a significant milestone for Site Group International Limited as it seeks to expand its training services business in the Kingdom of Saudi Arabia and the MENA region. The involvement of Powerhouse Ventures Limited demonstrates confidence in Site's growth prospects and strategic direction. We are pleased to have secured the necessary funding to pursue our growth opportunities, particularly in partnership with oil giant Saudi Aramco under the Kingdom's Vision 2030. The additional investment in a large commercial land holding in Clark, the Philippines, further strengthens our balance sheet and provides tangible development-for-sale opportunities.

Summary of the capital raising and future outlook

Site Group International Limited (ASX:SIT) has successfully completed a capital raising of $800,000, with Powerhouse Ventures Limited (ASX:PVL) playing a pivotal role in arranging the placement and committing to a cornerstone investment. The proceeds from the capital raising will be utilized to expand Site's training services business in the Kingdom of Saudi Arabia and the MENA region, as well as for general working capital. Additionally, Site intends to offer a Share Purchase Plan (SPP) to enable eligible shareholders to participate in the raising at the same price as the placement. The company's ambitions to develop and upskill the workforce in Saudi Arabia in partnership with oil giant Saudi Aramco under the Kingdom's Vision 2030 reflect its strategic focus on growth opportunities. Furthermore, the significant investment in a large commercial land holding in Clark, the Philippines, enhances Site's balance sheet and presents tangible development-for-sale opportunities, aligning with the Philippines government's decentralization efforts.