Saturday, January 23, 2021

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The Food Revolution Group: Raises $4M for Juice Lab rollout

  • The Food Revolution Group (FOD) has received binding commitments to undertake a $4 million placement
  • More than 114 million fully paid shares will now be issued to institutional and sophisticated investors at 3.5 cents
  • This price represents a 16 percent discount to FOD’s closing price of 4.2 cents on November 30
  • In addition to the placement, the company will be undertaking a share purchase plan (SPP) with aims to raise $500,000
  • Eligible shareholders will be able to subscribe to up to $30,000 worth of shares at the same price as the placement
  • FOD will use the funds to support the rollout of its Juice Lab wellness products and build brand awareness of its Original Juice Co and Juice Lab brands

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