KneoMedia Ltd (ASX:KNM) (OTCMKTS:KNEOF) has been granted a trading halt by the ASX ahead of an announcement regarding a proposed capital raising.
The halt will remain in place until the start of regular trading on Monday, July 12, or until an announcement is released to the market, whichever occurs earliest.
KneoWorld Seat Licences
In May the company secured the first 100 Seat Licences for its KneoWorld Career Technology Education (CTE) program for phase-1 deployment by the Albany School District in New York State.
Albany is the capital of New York State, and the first deployment delivers strong market visibility for the KneoWorld technology in a large market.
Further enhancing US presence for KneoWorld, the company has also confirmed a new commercial agreement with EEV LLC to help grow sales more broadly throughout the United States.
Valuable reference point
With 731 public schools in New York State alone that operate independently of the New York City Dept of Education, the Albany district agreement represents a logical market where the company plans to grow its presence and achieve greater sales uptake.