iBuyNew Group Limited (ASX:IBN) is seeking acquisitions. iBuyNew has received commitments from professional and sophisticated investors including existing shareholders and iBuyNew management totalling AUD 1.2 million, for new fully paid ordinary shares in the company at an issue price of AUD 0.005 per share. iBuyNew will use the funds raised under the placement as working capital to accelerate revenue growth through the strategic acquisition of assets similar to the recent Indo-Pacific Property acquisition, property rent rolls and to retire debt owed to the Company’s founder without drawing on existing cash reserves. iBuyNew continues due diligence on several opportunities and funds will also be used to meet the one-off transaction costs associated with any potential mergers and acquisitions.