Frugl Group Limited (ASX: FGL) has signed a Convertible Securities and Share Placement Agreement with Obsidian Global Partners, LLC Inc for a financing facility up to AU$2 million through the issuance of Convertible Notes in multiple tranches. The initial tranche of AU$0.9 million will be completed shortly, with an additional AU$1.1 million available subject to conditions over nine months. The initial conversion price for the first tranche is set at AU$0.15 per share.
CEO Ken Tovich emphasized the importance of this funding for expanding Frugl's core business units, InFocus Analytics and Trienpont, into new products, services, and markets. Recent developments include contracts generating recurring revenue and new engagements for InFocus Analytics. The financing will support further growth initiatives. Frugl's retail intelligence ecosystem leverages grocery data to power its platforms, Frugl Grocery and InFocus Analytics.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
