Orcoda (ASX:ODA) begins week in trading halt

  • Orcoda (ODA) has begun the week in a trading halt while it inks out the details of a capital raise and transaction
  • The transport services solution provider will remain in the halt until March 10 or when an announcement is released, whichever occurs first
  • In mid-February, Orcoda’s subsidiary sold a 51 per cent interest in one of its contracting special purpose vehicles to Dickerson Digital for $57,000
  • This allowed Orcoda and its subsidiary to become a certified Supply Nation provider
  • Supply Nation is a non-profit organisation that aims to grow the Aboriginal and Torres Strait Islander business sector through supplier diversity
  • Shares in Orcoda last traded at 19 cents on March 3

 

Orcoda (ODA) has begun the week in a trading halt while it inks out the details of a capital raise and transaction.

The transport services solution provider will remain in the halt until March 10 or when an announcement is released, whichever occurs first.

Orcoda is yet to disclose how much it intends to raise or what it will use the funds for once received.

In mid-February, Orcoda’s wholly owned subsidiary, Orcoda Resource Logistics, sold a 51 per cent interest in one of its contracting special purpose vehicles to Dickerson Digital for $57,000.

Dickerson Digital, a certified Supply Nation indigenous corporation, has extensive experience in artificial intelligence, cyber security, virtual reality, augmented reality and machine learning.

Additionally, it is currently working with Orcoda on a smart light pole project for roads, rail and air.

Through these actions, ODA and its subsidiary to become a certified Supply Nation provider, which will enable it to carry-out contract works as an indigenous controlled entity.

Supply Nation is a non-profit organisation that aims to grow the Aboriginal and Torres Strait Islander business sector through supplier diversity.

Shares in Orcoda last traded at 19 cents on March 3. The company has a $26.61 million market cap.

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