Founders First To Accelerate Growth Strategy After Receiving Commitments For A$7.5 Million Placement


We’re pleased to share we’ve received firm commitments for A$7.5 million (before costs) in new equity via a fully committed two tranche share placement to institutional and sophisticated investors through the issue of approximately 21.43 million new shares at $0.35 per share. We also intend to launch a non-underwritten Share Purchase plan, raising approximately A$1.5 million.

The Equity Raising will be used to fund our growth strategy and will include funding of near term capital investments into Kangaroo Island Distillery, Seven Seasons (including Green Ant Gin), brand investment and growth opportunities.

Some Key Highlights Include:

Managing Director Mark Haysman Said “There is a huge opportunity over the coming years to create a high growth scale business that drives the craft sector forward and having the right investors on our register is critical to our success. We feel our register is high quality, patient capital that understands the size of our ambition and will be able to help fund the success of this company”
For further information on the placement and Share Purchase Plan view here

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