Pearl Global Limited announced to raise AU$6.82 via a two tranche placement

Pearl Global Limited (ASX:PG1) announced that it had received binding commitments from institutional and sophisticated investors to raise AU$6.82 million via a two-tranche placement. The placement includes the issue of approx. 454.7 million fully paid ordinary shares at AU$0.015 per new share. Tranche 1 of the Placement is set to raise approximately AU$2.37 million, and Tranche 2 is estimated to raise approx. AU$4.45 million.

Proceeds from the placement will be used for buying and installing the commercialisation infrastructure comprising materials preparation and handling as well end product storage equipment for the current site at Stapylton, design and engineering for the generation-2 plant and processing technology, and for the general working capital requirements.

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