Pineapple Power Corp - London-based special purpose acquisition company - Completes a GBP350,000 fundraise via a placing of 11.7 million new shares new shares at a placing price of 3.00 pence each, which have been admitted for trading on the Main Market of the London Stock Exchange. The placing was first announced on Thursday last week.

Clive de Larrabeiti, corporate finance adviser to Pineapple, says: "This placing significantly strengthens the company's balance sheet and provides additional financial resources to pursue a potential [reverse takeover] transaction. This, together with the recent addition of Graham Cooley as a strategic corporate and [mergers and acquisitions] advisor to the company, which dramatically extends our reach in the universe of renewable energy, places us in a very good position to advance our business plans. We now look forward, despite the headwinds which currently exist in the financial markets worldwide, to an interesting and hopefully exciting year ahead."

Current stock price: 2.92 pence, down 5.1%

12-month change: down 12%

By Greg Rosenvinge, Alliance News reporter

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