The West

Tsvetnenko eyes new venture

Tech entrepreneur Zhenya Tsvetnenko has made another play into the sector, revealing plans to backdoor list his "performance-based advertising firm" Mpire through the shell of failed explorer Lithex Resources.

Mpire is this morning expected to announce plans to raise $5.5 million through the reverse takeover of South Perth-based Lithex, a remnant of this decade's graphite bubble.

The deal will see 23.5 million shares at 20� issued to Mr Tsvetnenko's company LiveLynk, with a further 25 million shares priced at 20� as part of the public raising through DJ Carmichael.

Mpire is an entity of LiveLynk, wholly-owned by Mr Tsvetnenko.

Founded in 2006, Perth-based Mpire also promotes itself as a "one-stop shop" for online marketing and software development services. Mr Tsvetnenko was part of bitcoin miner Digital BTC's ASX listing last month.

The West Australian

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