Frugl Group Limited (AU:FGL) has released an update.
Frugl Group Limited has announced the issuance of 600,000 convertible notes without investor disclosure under Part 6D.2 of the Corporations Act, to facilitate capital raising for expanding its retail intelligence platforms and general working capital. The notes were issued as part of an agreement with Obsidian Global Partners, which includes up to US$660,000 plus A$1 million in notes, with the initial tranche already issued. This strategic financial move is designed to minimize shareholder dilution while providing the company with efficient and cost-effective funding.
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