Successful $1.0M Placement & Launch Of Share Purchase Plan

SensOre (ASX: S3N or the Company) aims to become the top performing global minerals targeting company through deployment of big data, artificial intelligence/machine learning technologies and geoscience expertise.

SensOre Limited is pleased to announce it has secured binding commitments for a $1.0m placement to new and existing investors (Placement). Alongside the Placement, a Share Purchase Plan will be offered to existing eligible shareholders raising up to A$1.0 million.

Bell Potter Securities Ltd acted as Lead Manager for the Placement.

The issue price of A$0.25 per share for both the Placement and the Share Purchase Plan represents a:

16.7% discount to the closing price of SensOre shares of A$0.30 on 8 May 2023 being the last trading day prior to release of this announcement; and a
27.4% discount to the 10-day VWAP prior to the release of this announcement.

Under the Placement, a total of 4,000,000 new fully paid ordinary shares will be issued. Approximately 2.1 million shares (raising approximately $0.52 million) will be issued under ASX listing Rule 7.1 and a further 1.2 million shares (raising approximately $0.48 million) will be issued to Directors of the Company, subject to shareholder approval which will be sought at a General Meeting (GM), intended to be held in late June 2023. The Placement included a one (1) for two (2) free attaching option exercisable at $0.375 and expiring three (3) years from the issue date. It is anticipated that shares and options will be allotted under Listing Rule 7.1, with the shares expected to be issued on or around 18 May 2023. Further details of the Placement issue are set out in the Appendix 3B lodged by the Company today.

Funds raised under the Placement will primarily be used to fund growth of the Company’s technology and exploration services businesses, as well as for general working capital purposes.

Share Purchase Plan

SensOre Limited is also pleased to announce a Share Purchase Plan (SPP) offered to existing eligible shareholders, being those shareholders that are residents in Australia or New Zealand that held SensOre shares as at 7:00pm (AEDT) on Wednesday, 10 May 2023. Eligible shareholders will be invited to participate in the SPP at the same issue price as the Placement (A$0.25 per share and options with One (1) option for every two (2) shares at an exercise price of A$0.375 and with an expiry of three (3) years from the issue date) also announced today.

The SPP will provide eligible shareholders the opportunity to increase their holding by up to A$30,000 without incurring any brokerage or transaction costs. The SPP is targeted to raise a maximum A$1.0 million and is not underwritten. If the full amount is raised 4,000,000 shares and 2,000,000 options will be issued.

SensOre may increase or decrease the size of the SPP and/or scale back applications under the SPP at its discretion. Any scale-back will be applied to the extent and in the manner, SensOre sees fit, which may include taking into account a number of factors such as the size of an applicant's shareholding at the record date for the SPP, the extent to which the applicant has sold or purchased shares since the record date, whether the applicant may have multiple registered holdings, the date on which the application was made, and the total applications received from eligible shareholders.

Further information regarding the SPP (including terms and conditions of the SPP) will be provided to eligible shareholders in the SPP offer booklet, which will be made available to eligible shareholders shortly. Eligible shareholders wishing to participate in the SPP will need to apply in accordance with the instructions in the SPP offer booklet. Participation in the SPP is optional.

At the time of allotment under both the Placement and SPP, New Shares issued under the offers will rank pari- passu with existing shares. The Share Purchase Plan Timetable is as follows:

The above timetable is indicative only and is subject to change. All dates and times are AEST. Subject to the requirements of the Corporations Act, the ASX Listing Rules and any other applicable laws, SensOre reserves the right to amend this timetable at any time, including extending the closing date of the Share Purchase Plan period or accepting late applications, either generally or in particular cases, without notice. Any extension of the closing date will have a consequential effect on the issue date of the New Shares. The commencement of quotation of New Shares is subject to confirmation from ASX. The information in this announcement does not constitute financial product advice and does not take into account the financial objectives, personal situation or circumstances of any shareholder. If you are in any doubt as to how to proceed, please contact your financial, tax or other professional adviser.

Click here for the full ASX Release

This article includes content from SensOre Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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S3N:AU

OpenText World Europe 2024 Takes Flight Debuting Latest AI Innovations to Elevate Human Potential

OpenText brings together customers, partners and industry luminaries to explore the transformative power of AI as the force multiplier for human potential

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, today began its OpenText World Europe event taking place in three locations, London Munich and Paris April 15 18. OpenText is excited to bring together customers, partners, and industry luminaries to explore the transformative power of information management and artificial intelligence (AI) to elevate human potential.

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Trudeau Earmarks C$2.4 Billion for Canadian AI Innovation in 2024 Budget

The Canadian government has announced plans to inject C$2.4 billion into artificial intelligence (AI) innovation.

Prime Minister Justin Trudeau unveiled the package as part of the country’s 2024 budget, saying the focus is on accelerating job growth in Canada's AI sector by boosting productivity and ensuring responsible AI use and adoption.

"AI has the potential to transform the economy. And our potential lies in capitalizing on the undeniable Canadian advantage," he said. "These investments in Budget 2024 will help harness the full potential of AI so Canadians, and especially young Canadians, can get good-paying jobs while raising our productivity, and growing our economy.”

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OpenText to Report Third Quarter Fiscal Year 2024 Financial Results on Thursday, May 2, 2024

Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), announced today that financial results for its third quarter fiscal year 2024 will be released on Thursday, May 2, 2024 at approximately 4:00 p.m. ET .

OpenText to Host Conference Call Webcast
Mark J. Barrenechea , OpenText CEO & CTO and Madhu Ranganathan , OpenText President, CFO & Corporate Development will host a conference call webcast on May 2, 2024 , at 5:00 p.m. ET from its Investor Relations website.

Date:	Thursday, May 2, 2024
Time:	5:00 p.m. ET/2:00 p.m. PT
Length:	60 minutes
Webcast:	Access on OpenText IR website https://investors.opentext.com

For more information, please visit: https://investors.opentext.com

About OpenText
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud-Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit https://www.opentext.com

Copyright ©2024 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved. For more information, visit: https://www.opentext.com/who-we-are/copyright-information

OTEX-F

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SOURCE Open Text Corporation

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OpenText Strengthens Leadership Team; Appoints Three Presidents, including Todd Cione as incoming President WW Sales

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced the strategic appointment of Todd Cione as President of OpenText Worldwide Sales, and announced the promotions of Paul Duggan as President and Chief Customer Officer, and Madhu Ranganathan as President, CFO & Corporate Development.

Mr. Cione will lead a charter focused on spearheading the company's global go-to-market strategy and revenue growth, with OpenText's global sales and sales operations functions reporting directly to him. Mr. Duggan will lead a charter focused on customer success and customer transformations including support, recurring revenues, and professional services. Ms. Ranganathan will lead a charter focused on finance, corporate operations, and corporate development. Each of Mr. Cione, Mr. Duggan and Ms. Ranganathan will directly report to OpenText CEO & CTO Mark J. Barrenechea .

Cione is an experienced global sales leader with a proven record of customer engagement, revenue growth and executing cloud transformations. He brings to OpenText more than 30 years of experience in global sales at large multi-national technology organizations, including Teradata, Apple, Microsoft, and Oracle.

"I am delighted to have Todd join the OpenText executive leadership team and to announce the expanded responsibilities for Paul and Madhu. Todd is a results-oriented leader with a proven track record of delivering predictable and profitable growth," said Mark J. Barrenechea , CEO & CTO, OpenText. "As we continue to grow as a global leader in Information Management, our leadership team is elevated with those who are experienced with operating multi-billion-dollar businesses. Todd, Paul, and Madhu are outstanding executives, and I look forward to working with them in the years to come."

"I believe OpenText's strategy of Information Management, in the cloud, at scale, is a winning strategy," said Todd Cione , President of Worldwide Sales. "Information Management is positioned to transform organizations with next generation automation and AI. I am excited to be part of a winning team and to engage with customers and partners."

"OpenText serves many global organizations, and core to OpenText customer success is value, trust and innovation," said Paul Duggan , President and Chief Customer Officer. "As our customers undergo the next wave of business transformations to the cloud and AI, our global and experienced Customer Success organization is ready to help."

"OpenText's operational excellence remains central to supporting our growth and scale," said Madhu Ranganathan , President, CFO & Corporate Development. "Our expanded organization is focused on creating a frictionless business for our employees and customers, and to support the long-term value creation for all our stakeholders."

OpenText further announced that Ted Harrison , EVP, Enterprise Sales, has decided to retire from OpenText effective September 15 , 2024. Until such time, effective immediately, Mr. Harrison will act as Strategic Advisor to the President, Worldwide Sales.

"I would like to sincerely thank Ted for his many years of leadership, contributions and accomplishments at OpenText and we wish him the very best in his next chapter," added Mr. Barrenechea.

For full biographical information on Todd Cione , Paul Duggan , and Madhu Ranganathan , as well as the entire OpenText Executive Leadership Team, please visit here .

About OpenText

OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com

Connect with us:

OpenText CEO Mark Barrenechea's blog

Twitter | LinkedIn

Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website ( https://investors.opentext.com ). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.

OTEX-G

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SOURCE Open Text Corporation

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