Achiko Limited (SWX:ACHI) announced a private placement of 2,000,000 common shares at a price of $1 per share for proceeds of $2,000,000 and convertible credit facility for proceeds of $2,000,000 for aggregate gross proceeds of $4,000,000 on June 17, 2020.

On the same date, the company issued shares for proceeds of $2,000,000 to PT. Media Nusantara Citra Tbk (IDX:MNCN) in its first tranche. The company expects to receive $2,000,000 in its second tranche within 20 days by another investor.