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CloudTag chief: “Everything is going to plan”

Wearables group CloudTag Inc  (LON:CTAG) has started to roll-out its wrist-based health and fitness monitors through a raft of major online and retail outlets.

Amit Ben-Haim, chief executive, tells Proactive that “everything is going to plan” and that CloudTag is “now closing the gap towards finalising the demands on stocking the shelves [of High Street and online retailers]”.

Shares soared on Thursday on the news, which was accompanied by a funding that raised £300,000 at 5.05p, a sizeable premium to Wednesday’s close.

“I think the market gets more comfortable with the quality of the data we release and I believe the share price is moving accordingly,” Ben-Haim adds.

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Market: AIM
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CloudTag Inc raises £580,000 to fund growth

Personal fitness monitoring device maker Cloudtag Inc (LON:CTAG) has raised £580,000 to help it bankroll rapid business growth. Cloudtag has generated the cash by issuing 10mln shares at a price of 5.8p per share, representing a premium of 5.45% to Tuesday's mid-market closing...

on 10/8/16

2 min read