• $935,000 raised through placement and convertible notes
• Funds to be used for financial review, creditor settlement, and SaaS platform rollout
• Strong shareholder support demonstrated with Chair's participation

Jayride Group Ltd (ASX: JAY) has completed a $735,000 placement to existing and new sophisticated investors, raising a total of $935,000 (before costs) when combined with the recent issue of $200,000 in Convertible Notes approved by shareholders. The placement was executed at the company's pre-suspension price of $0.006 per share, with 122.5 million new shares issued under the company's ASX Listing Rule 7.1 capacity. Baker Young acted as Lead Manager to the placement. Jayride's Chair, Brett Partridge, subscribed for $125,000 in the placement, demonstrating strong alignment with all shareholders. The funds raised will be deployed towards completing the RSM short-form financial review, strategic settlement and restructuring of historical creditors, working capital to support the rollout of Jayride's SaaS mobility platform in Australia, Malaysia and Thailand, as well as regulatory, audit and administrative costs associated with the reinstatement of the company's securities on the ASX. The overwhelming shareholder support at the recent AGM and the Board's ongoing alignment, including the Chair's personal participation in both the placement and convertible note, is seen as a powerful signal of belief in Jayride's long-term value creation.

The additional capital provides the momentum Jayride needs to complete its reinstatement steps, finalise the RSM review, and press forward with its SaaS mobility platform across multiple regions.