Mercurius Capital Investments is planning to issue 27.3 million new ordinary shares at an issue price of 5.5 cents per new share in a private placement with existing investor Cheah Bee Lin, raising a total of $1.5 million.

The proposed issue price represents a 9.8% discount to the volume-weighted average price (VWAP) of 6.1 cents as of June 2.

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