FBR Limited completes AU$1.9 million strategic placement to Brickworks

FBR Limited (ASX: FBR) announced that it had received a firm commitment from Australia‘s largest brick producer and a wholly-owned subsidiary of existing strategic investor Brickworks Limited, to raise AU$1,929,628.40 through 107,201,578 shares at AU$0.018 per share, representing a 14% discount to company’s last closing price and a 15% discount to the 30 days VWAP. The new shares to be issued under the placement will rank equally with existing FBR fully paid ordinary shares on issue. They will result in Brickworks holding a 4.93% stake in the company, controlled via a Brickworks wholly-owned subsidiary.

The funds raised via the placement will be used to fund the working capital and commissioning of the next-generation Hadrian X®.

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