Australia's X2M Connect up on deal with GreenRock Energy

X2M Connect

06/12/2023 04:03

** Shares of smart devices solution provider X2M Connect
 X2M.AX  rise as much as 9.8% to A$0.045, set to see their best
day since Nov. 3 - if gains hold 
    ** Co signs non-binding memorandum of understanding (MOU)
with Taiwan-based GreenRock Energy to develop an energy
management system business in target markets of Australia,
Taiwan, Japan and South Korea
    ** Announces entitlement offer of up to A$1.5 million 
($988,950.00) at an issue price of A$0.04 per share to fund
platform enhancements for renewable energy, smart communities
and ongoing ops 
    ** About 163,7448 shares change hands, compared with the
30-day average volume of 7,357
    ** Stock has fallen 48.1% this year, as of last close


($1 = 1.5168 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))