Eden Innovations: Raises another $2.6m

Eden Innovations Raises another $2.6m

• Eden Innovations (EDE) has raised another $2.6 million in capital via the placement of shortfall shares and a seperate placement to institutional investors
• EDE first raised $2.3M through a rights issue back in September, where one new share was issued for every 12 held at an issue price of 2.2 cents
• Eden has now placed the remaining 68.5 million shares, and raised another $1.1M through a placement to leave EDE with an extra $5 million in working capital
• The extra cash comes at a good time for Eden Innovations, as the business ended the September quarter with less than two quarters left of funding
• Company shares are up 4.76 per cent at 2.2 cents each