Australia's Cirralto sees best day in 3 weeks on funding agreement

Spenda

22/11/2021 03:06

** Shares of payment solutions firm Cirralto Ltd  CRO.AX 
rise as much as 5.3% to A$0.060, their biggest intraday
percentage gain since Nov. 2
    ** Co signs binding agreement with online wholesale beverage
ordering platform eBev to provide funding services to eBev's
trading network
    ** CRO says initially services will be rolled with a A$1 mln
 ($723,700.00) funding limit, and expects full facility limit of
up to A$10 mln
    ** Says revenue to be derived at an effective rate of 1.35%
of eBev's funded transactions
    ** Stock hits highest level since Nov 4, up for a third
consecutive session 
    ** As of last close, co's shares up ~50% so far this year
    

($1 = 1.3818 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))