• Raised $2 million through placement of new shares at $0.022 per share
• Proceeds to fund sales growth, M&A opportunities, and operational improvements
• Implemented changes to sales and operational structures to drive new opportunities

EPX Limited (ASX: EPX) has received commitments from existing institutional shareholders to raise $2 million through a placement of new fully paid ordinary shares in the company. The issue price of $0.022 per share represents a 22% discount to the 20-day volume-weighted average price. The proceeds from the placement will be used to assist in advancing sales growth, assess further M&A opportunities, and invest in operational improvements in technology, particularly in aligning it to EPX's product roadmap post the acquisition of the Coda Cloud technology. EPX has implemented changes to its sales and operational structures, which is driving new sales opportunities. These changes include the release of a new brand and tradename, the creation of a Customer Success team in each market, the expansion of the sales team, and preparation to launch EDGE Industrial in the APAC region. The commitment from institutional shareholders is contingent on EPX meeting its continuous disclosure requirements and providing a cleansing notice. The placement will result in the issue of 90,909,091 new shares, which will be issued under the company's existing capacity.

EPX is at an exciting juncture, given the continued good tailwinds in the industry and the opportunities for expansion and growth the company is seeing in its markets.