Equity Story Group Ltd announces successful placement

Equity Story Group Ltd (ASX:EQS) has successfully secured firm commitments to raise $708,000 through a placement. The Company will issue up to 27,230,769 new fully paid ordinary shares at $0.026 per share, along with 27,230,769 unlisted options exercisable at $0.05 and expiring two years from issue. The placement is within the Company's existing 15% placement capacity under ASX Listing Rule 7.1 and 10% placement capacity under ASX Listing Rule 7.1A. The capital raised will be utilized to expand sales and marketing activities, drive revenue within the education and trading division and Funds Management, hire a Senior Wealth Advisor, and recruit an Office Manager to support Securities, Wealth & Membership divisions, as well as for general working capital to explore and assess expansion opportunities.

Equity Story Group Ltd CEO's comments on the placement

The capital raised through the successful placement will enable us to further strengthen our sales and marketing efforts, drive revenue growth in our education and trading division, and expand our Funds Management. Additionally, the hiring of a Senior Wealth Advisor and an Office Manager will support our Wealth Advisory growth and enhance the operational efficiency of our Securities, Wealth & Membership divisions. We are excited about the opportunities this funding will unlock for us in exploring and assessing expansion prospects.

Summary of Equity Story Group Ltd's placement announcement

Equity Story Group Ltd (ASX:EQS) has successfully raised $708,000 through a placement, issuing new fully paid ordinary shares and unlisted options. The capital raised will be directed towards expanding sales and marketing activities, driving revenue within the education and trading division and Funds Management, hiring a Senior Wealth Advisor, recruiting an Office Manager, and exploring expansion opportunities. The Company aims to utilize this funding to strengthen its position in the market and pursue growth opportunities in line with its corporate strategy.