Wide Open Agriculture (ASX:WOA) Secures $2.6M Placement & Launches SPP
Funding Round
Wide Open Agriculture has raised $2.6 million through a placement of 112.8 million new shares at $0.023 each. The company will also offer a Share Purchase Plan (SPP) to raise an additional $500,000.
Market Expansion
The funds from the placement and SPP will accelerate the company’s market expansion, prioritising entry into the China consumer market. WOA’s lupin protein isolate is ready for delivery to existing customers globally.
Executive Comments
Yaxi Zhan, Non-executive Chairperson, commented, “WOA is now set for success, with funds from this capital raising to accelerate growth, building upon the Company’s strong progress in commercialising its lupin protein isolate, as shown by initial sales coming from around the globe and WOA’s exciting market entry in China.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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