April 19 (Reuters) - Newzulu Ltd NWZ.AX :
* Placement to sophisticated investors to raise $0.90 mln
* Issue price of $0.0012 per new share
* Net proceeds of entitlement offer will be used to fund expansion of newzulu sales team, to repay Newzulu's loan of approximately $670,000 Source text for Eikon: Further company coverage: NWZ.AX