Rubianna Resources: Rubianna Resources heads for the cloud with retail finance sector acquisition

Rubianna Resources (ASX:RRE) is making its way from an explorer to the financial sector with an option to acquire a cloud based credit provider.The option to acquire the entire issued capital of zipMoney is for a period of 60 days.Total consideration for the acquisition of zipMoney would see 550 million ordinary shares and 350 million performance shares in Rubianna issued to the shareholders of zipMoney at a deemed issue price of $0.0125 each over time.Following due diligence Rubianna would look to raise $4 million and go to shareholders for approval as well re-comply with chapters 1 & 2 of the ASX listing rules given the change of business sector.Founded in 2013, zipMoney offers real-time credit to consumers online as well as provide finance solutions to merchants.The company said it has originated $3 million in loans through its network of more than merchants to consumers.zipMoney is a regulated credit provider providing finance solutions at point of sale.Rubianna will look to complete a 4 for 9 Rights Issue at $0.01 per share to raise $965,000. Of which, $650,000 will be loaned to zipMoney upon exercise of the Option to fund zipMoney's general working capital requirements. Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.