Pure Foods Tasmania Raises $2.55m to accelerate growth
- Tasmanian food and beverage company Pure Foods Tasmania (PFT) successfully completes its placement and raises $2.55 million
- The funds were raised through the issue of roughly 15.45 million shares to institutional and sophisticated investors at a price of 16.5 cents
- PFT will now undertake a one-for-three entitlement offer to raise around $3.40 million and the company has the right to issue any shortfall to eligible shareholders at its discretion
- PFT plans to use the money to accelerate growth by investing in working capital, new products and marketing, drive production efficiencies and invest in product expansion
- Shares in PFT are up 10.5 per cent on the market and are trading at 21 cents at 1:38 pm AEST
