Raises $3million to Progress Expansion Plans
Sydney, Oct 27, 2022 AEST (ABN Newswire) - Australia Sunny Glass Group Limited (NSX:AG1) is pleased to announce that it has received firm commitments to raise A$3 million by way of a share placement at A$0.30 per share (Placement).
Funds were raised from new and existing professional and sophisticated investors, with Townshend Capital Pty Ltd acting as Lead Manager. The Placement is due to be settled in the coming days, with the shares to be issued under the Company's existing capacity under Listing Rule 6.25.
The funds raised will support working capital requirements and allow the Company to progress expansion plans in its primary markets of New South Wales and Victoria.
The Lead Manager will be paid a capital raising fee of 5% (excluding GST) on all funds raised pursuant to the Placement.
Upon the successful completion of the Placement, the company is expected to have approximately 96 million shares on issue with expected additional funding of A$3 million.
About Australia Sunny Glass Group Ltd
Australia Sunny Glass Group Limited (NSX:AG1) seeks to establish itself as a supplier of premium treated glass products to the construction industry in Australia, including in the residential and commercial building markets.