Melodiol Global Health Raises Capital and Updates Operations

Melodiol Global Health Limited (ASX: ME1) is raising approximately AU$1 million through issuing 200,000,000 new fully paid ordinary shares at AU$0.005 per share. The company has also agreed to convert AU$724,206 of outstanding amounts to equity, resulting in the issuance of 157,339,296 shares. The funds raised will be used for marketing, sales initiatives, corporate expenses, potential debt repayments, and restructuring lower-revenue divisions. Shareholders and debt conversion participants will receive two free attaching options for every share issued. The company plans to quote the attaching options, subject to meeting ASX listing requirements.

In addition to the capital raising, the company reports unaudited Q3 FY23 revenue of AU$7.5 million, a substantial increase from the previous year. The company is actively focusing on its high-performing business units and considering divestment of non-core assets. It is exploring various sources of capital, including debt funding and additional capital raising. There have been updates on extending secured notes, SBC convertible note facility repayment, and negotiations regarding the Panacea Transaction.

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