Australia's Pentanet marks best day in near 5 months on strategic partnership

Pentanet

08/02/2022 24:41

** Shares of Pentanet Ltd  5GG.AX  rise as much as 9.8% to
A$0.45, their best session since Sept. 17, 2021
    ** Wireless internet and data services provider announces
acquisition of a 13.4% stake in AI-based co CANOPUS Networks for
A$4 mln ($2.85 mln)  urn:newsml:reuters.com:*:nASX3N5n0N
    ** Says agreement includes a commitment for CANOPUS to
invest A$1.5 mln in co-development of 5GG's gaming loyalty
platform Cloud.GG
    ** 5GG.AX adds that partnership creates additional
rev-generating opportunities on development of Cloud.GG
    ** Stock hits highest level since Jan. 25
    ** Stock has fallen 22.6% this year, as of last close


($1 = 1.4035 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))