Frugl Raises $1.7m in placement
- Frugl (FGL) has tapped investors for $1.7 million, through a two tranche placement
- The company will issue around 431 million shares at 0.4 cents, with a one for two free-attaching unlisted option, exercisable at one cent before December 31, 2025
- The company says the placement was well supported by domestic and international sophisticated and professional investors
- Funds will go towards marketing of the company’s grocery app and the commercialisation of the Frug l market analytics retail platform
- Shares in The company are down 22.2 per cent, trading at 0.7 cents as of 1:26 pm AEDT
