Galicia Energy Corporation (ASX:GAL) has been granted an ASX trading halt in relation to a proposed material partnering agreement for TV2U Worldwide Pty Ltd.
In late July, the company exercised an option to acquire TV2U, digital content enabler and technology provider to the media, entertainment and telecommunications industries
Galicia will issue 714,285,714 shares at a deemed price of $0.014 each and up to 1,035,714,286 performance shares as consideration for the acquisition.
It is raising at least $6 million through a prospectus priced at not less than $0.02 per share.
The halt will last until the earlier of the announcement being made or the start of trade on Friday, 14th August 2015.
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