Altitude Group plc

finnCap have advised Altitude Group plc (AIM: ALT), the operator of a leading digital marketplace for personalised products, on their £3.7m fundraising.

The net proceeds will be used to ensure the Company has flexibility in funding to significantly increase the number of US Channl.com web sites created for distributors and end users, gain traction in terms of their activation and engagement and support the UK launch of Channl.com through the acquisition of certain assets of AdProducts.com Limited, a small UK based supplier of promotional products, for cash consideration of approximately £0.8 million (subject to a stock valuation adjustment). A further announcement will be made in due course when the acquisition has completed.

Peter Hallett, Executive Chairman of Altitude, commented:

“We are delighted with the support from both new and existing investors in the Company. The funds raised will enable us to accelerate the rollout of Channl.com in the US and UK and we look forward to updating the market over the coming year.”