Zimi's strategic financial and corporate initiatives

Zimi (ASX:ZMM), a leader in innovative IoT electrical devices, has raised $2.375 million through a Shortfall Placement. In a strategic move, Zencontrol has acquired a 19.3% stake in Zimi, becoming a substantial shareholder. This capital raising and partnership aim to fuel Zimi's growth and commercialization plans.

Overview of Zimi's strategic development

Zimi has raised $2.375 million, issuing 237,500,000 shares at $0.01 each to support growth and commercialization efforts. Zencontrol's acquisition of a 19.3% stake involves collaboration on 'Senoa Professional' products. The board welcomes new members, including Simon Beissel as Chair. Zimi's strategic goals include expanding product lines, pursuing global markets, and capitalizing on opportunities in the smart building sector. The strategic partnership and capital raise position Zimi to enhance its market presence and drive future growth.

Executive insights on Zimi's strategic moves

The successful capital raising and partnership with Zencontrol mark a significant milestone for Zimi as we continue to expand our product offerings and explore global opportunities. We are enthusiastic about the synergies that Zencontrol brings and are committed to leveraging these to drive our growth strategy.