Frugl Group Limited announces to raise AU$1.725 million via placement

Frugl Group Limited (ASX: FGL) announced that it had received firm commitments from domestic and international sophisticated and professional investors to raise AU$1,725,000 via a placement. The placement includes the issue of approx. 431,250,000 fully paid ordinary shares at AU$0.004 per new share, with 1-for-2 free attaching unlisted options exercisable at AU$0.01 with an expiry date of 31 December 2025. The issue price represents a 60% discount to the 15-day VWAP and a 55% discount to the last traded price.

Funds raised from the placement will be used towards marketing the Frugl Grocery App, commercialisation of the Frugl Market Analytics Retail Platform, expansion of the Frugl Market platform into Southeast Asia, repayment of borrowings, and general working capital requirements.

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