Hiremii Ltd strengthens its growth strategy with capital raising and a new CFO

Hiremii Ltd (ASX: HMI) has received firm commitments from institutional, professional and sophisticated investors to raise $ 800,000 through a two-tranche placement of fully paid common stock at an issue price of $ 0.0447 per share

The company will also undertake a stock purchase plan (SPP) for existing shareholders with the aim of raising an additional $ 800,000.

In addition, Hiremii strengthened its management team with the appointment of Brad Kobus as CFO.

“Large-scale services”

Commenting on the capital raising, Hiremii Managing Director Andrew Hornby said: “Following the recent acquisition of Reverse Group Pty Limited, the company now has the ability to offer Hiremii’s unique technology recruiting platform. AI-based customer recruiting services are much more profitable for them.

“The funds raised provide us with additional capital to execute our growth plans and rapidly scale the services offered to our clients. “

Location summary

The placement will take place in two stages:

Section 1: The issuance of 14,325,125 shares to raise $ 640,333 (before fees) using the existing capacity of the Company’s listing rules 7.1 and 7.1A; and

Tranche 2: Subject to the Company obtaining the approval of the shareholders at a general meeting to be held no later than March 31, 2022, the issuance of 3,571,970 additional shares to raise an additional $ 159,667 (before costs ).

Notably, the issue price represents a 12.0% discount to the five-day volume weighted average price of Hiremii’s shares of $ 0.0508 before trading ceased on January 5, 2022.

Going forward, settlement of shares under Tranche 1 of the placement is expected to occur on January 11, 2022, with shares issued under the placement to be ranked on a par with existing shares of the company.

Indian Ocean Securities acted as the lead placement officer.

Use of funds

The funds raised in connection with the placement will be used for the expansion of the business of the Company and for working capital purposes. Specifically, the product will support:

• Ongoing marketing and business development to attract and acquire new customers;
• The continued development of the Hiremii technological platform through new research and development activities;
• Sales and marketing of the Hiremii technology platform to existing and new customers;
• Additional resources to expand operations to new key markets outside of Western Australia; and
• Supply costs and permanent working capital.

Summary of the share purchase plan

Eligible shareholders will have the opportunity to acquire up to $ 30,000 of new shares through the SPP at an issue price comparable to the issue price of the placement of $ 0.045 per share.

It is important to note that funds raised under the PSP will also be used for business expansion and for working capital purposes.

An SPP booklet containing more details of the SPP offer will be published separately on ASX and is expected to be sent to all eligible shareholders on or around January 19, 2022, when the SPP offer is expected to open.

Cadmon Advisory and Sandton Capital act as the lead managers of the SPP.

New CFO

Brad Kobus is an experienced finance and business executive from companies listed on ASX and in the United States. He is a Chartered Accountant with extensive technology background and has worked in Australia, Asia and Africa in both growing and established mining service and supply companies.

Notably, Kobus worked with Deloitte and graduated as a public accountant in Cape Town, and is completing a master’s degree in predictive analytics at Curtin University in Perth.

He was CFO of Threat Protect Australia Limited (now Intelligent Monitoring Group), a security services provider from 2019 to 2021.

Previously, he was CFO at Donhad, a $ 100 million mining consumables subsidiary of Valmont, US listed from 2014 to 2018, and became the divisional CFO of the 300 million Grinding Media and Fasteners division. dollars when Donhad was acquired by Molycop, a global group. industry leader.

Hornby adds, “We are extremely pleased to welcome Brad Kobus as CFO.

“Brad has held leadership positions in finance, commerce and information systems.

“He is joining Hiremii’s management team at an ideal time to provide new financial and business governance and support as the company integrates its services, systems and processes following the acquisition of Inverse Group Pty Limited.