My Rewards International (ASX: $MRI) announcement overview

My Rewards International Ltd (ASX: $MRI) has secured a firm commitment for a $1,000,000 placement to be completed by September 2024. The placement will involve drawing down the funding in tranches at an issue price of $0.009 per share. Additionally, the company has executed a binding heads of agreement with Flywallet Pty Ltd to create a rewards and loyalty program in Thailand, Cambodia, and Vietnam.

Executive Commentary

My Rewards is excited to announce the $1 million placement, which will provide essential working capital for the company. The partnership with Flywallet represents a significant step towards expanding our global rewards programs, and we are looking forward to the potential opportunities this collaboration will bring. The agreements with Flywallet and Feyverly align with our strategic goal of diversifying our product offerings and expanding internationally to drive business growth.

Summary of My Rewards International (ASX: $MRI) Announcement

My Rewards International (ASX: $MRI) has successfully secured a $1 million placement, demonstrating a strong financial position and commitment to future growth. The partnership with Flywallet Pty Ltd to create rewards and loyalty programs in Southeast Asia presents an exciting opportunity for the company to expand its market presence. The memorandum of understanding with Feyverly Company Limited further underscores My Rewards' strategic focus on international expansion and product diversification. These developments reflect the company's ambitions to drive business growth through innovative global rewards programs and strategic partnerships.