Classified Ad Ventures Takes 4.8% Stake in Quick Flix

Classified Ad Ventures, through its investment arm, CAV Investment Holdings, has taken a 4.8% stake in the ASX listed online DVD rental site, QuickFlix. This investment was part of the $750,000 capital raising just completed by the company. Here is the full ASX announcement.

Quickflix has successfully completed a private placement to raise $750,000 at an issue price of 5c per share. The placement was strongly supported, attracting a number of high quality, new shareholders to the Quickflix register. New shareholders include CAV Investment Holdings, the investment fund of Simon Baker, who from 2001 to 2008 was CEO and Managing Director of the ASX-listed REA Group Ltd (ASX: REA) which operates the successful Australian and international online real estate businesses including www.realestate.com.au.

This new funding will enable Quickflix to increase its marketing activity in attracting new subscribers and take advantage of its existing strong growth momentum. The board is delighted to welcome our new shareholders to the register.

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