• Completed $0.362m placement through issue of 14.48m shares at $0.025 per share
• Investors receive free attaching unlisted options with $0.05 exercise price and 2-year expiry
• Proceeds to be used for customer support, infrastructure, business development, marketing and working capital

X2M Connect Limited (ASX:X2M), an Australian Internet of Things (IoT) technology company, has completed a Placement of $0.362 million through the issue of 14.48 million Shares at a price of $0.025 per Share. Investors also receive a free attaching unlisted Option for each issued Share, with an exercise price of $0.05 and an expiry date two years from the date of issue. All Shares were issued from the Company's placement capacity under Listing Rule 7.1. The proceeds from the capital raise will be used for customer support and infrastructure costs, business development, marketing and working capital. Settlement of the Placement is on 19 December 2024 and Shares will be issued on 20 December 2024. The Company reserves the right to change these dates. Additionally, X2M has secured a contract with Heying International Co., Ltd in Taiwan to provide a centralised management solution across the more than 100 solar sites Heying manages in Taiwan. This solution resolves a number of pain points for Heying and forms part of the X2M energy management solution targeted for deployment across all of X2M's countries of operation.