Simble Solutions Raises Capital, Appoints Chairman

Simble Solutions (ASX:SIS), an energy and sustainability software company, announced it has secured approximately $500,000 through a placement to sophisticated and professional investors. An additional $27,375 will be raised through the cancellation of its At-The-Market facility with Alpha Investment Partners. Funds will be directed toward growing its global energy and sustainability software business, focusing on its CarbonView and SimbleSense platforms. A portion, initially $200,000, will be invested in Bittensor (TAO), a decentralized AI network, to generate revenues from staking rewards and explore blockchain applications within its core business. The placement was priced at $0.0025 per share, a 17% discount to the last traded price. 80,550,455 shares will be issued under ASX Listing Rule 7.1A, and 119,449,545 under ASX Listing Rule 7.1. Kaai Capital and Prenzler Group acted as joint lead managers for the placement and will receive fees settled in shares, subject to shareholder approval. Faldi Ismail has been appointed as Non-Executive Chairman, replacing Steve Thornhill, who will transition to Non-Executive Director. Mr. Ismail brings over 20 years of capital markets experience, particularly in emerging growth companies across resources, energy, and technology sectors. He is a Founding Director of Kaai Capital and holds a Bachelor of Business in Accounting and Finance. Subject to shareholder approval, Mr. Ismail will receive 30 million options with an exercise price of $0.0035, vesting upon the company achieving a 10-day VWAP of at least $0.007. Simble cancelled its At-The-Market Facility with Alpha Investment Partners, transferring 10,950,000 collateral shares to a third party investor for $27,375.