Aumake secures new funding to propel growth and enhance profitability

Aumake Limited (ASX: AUK) has completed new funding facilities to bolster its balance sheet and accelerate profitable growth. The company has secured binding commitments from a consortium of strategic investors, raising approximately AU$2.8 million through a share placement of around 560 million shares at 0.5 cents each. Additionally, Aumake has agreed to convert AU$1 million of its debt facility into equity on similar terms, simplifying its capital structure. The strategic consortium aims to leverage extensive Asian networks to aid Aumake in reducing costs and achieving financial profitability by FY25. The funding will also support the implementation of the company’s AU$300 million procurement framework with Yangtze Logistics and enhance OEM product development and digital marketing initiatives. Post-placement, Aumake will have over AU$4 million in cash on hand.

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