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BRIEF-Magnolia Resources says whole new home transaction receives shareholder approval

Published 20/07/2015, 12:51 pm
© Reuters.  BRIEF-Magnolia Resources says whole new home transaction receives shareholder approval
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July 20 (Reuters) - Magnolia Resources Ltd MGB.AX :

* Whole new home transaction receives shareholder approval;$7M secured in funding commitments

* Says acquisition on track to complete during August 2015

* Says wnh positioned for full-scale platform launch and commercialisation in Q3 2015

* Company is finalising the advance of a loan to pdt for $750,000 as agreed under the share sale agreement

* These funds will be used by pdt to continue the acceleration of business development whilst the transaction is completing.

* Says is targeting over 500,000 products to be rolled out by 2016

* Says the transaction is expected to complete during August 2015

* Source text (http://bit.ly/1fWG3qp)

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