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Auctus Alternative Investments to issue up to 108 million shares

Auctus Alternative Investments Ltd. is issuing up to 108 million new shares in two tranches.

The first tranche is an issue of up to 33 million shares at 4.5 Australian cents with a 1-for-2 free attaching option. The options will have a three-year term. The second tranche is an issue of up to 75 million shares at a price to be determined.

The funds raised through the placement will be used for working capital to build the company's funds under management; growth capital for the firm's last mile delivery business in the U.K., Gophr; and the purchase of an economic interest in Scout, a U.S. venture capital fund. The company also plans to use the funds to look for other investment opportunities.