Metro Performance Glass Ltd (AU:MPP) has released an update.
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Metro Performance Glass Ltd has announced a strategic partnership with Cowes Bay Group Pty Ltd, which will involve Cowes Bay becoming a significant shareholder and main lender, as well as participating in Metro’s upcoming equity capital raise. Cowes Bay will purchase 27.8 million new Metro shares and provide a loan facility extension, with the total capital raise targeting between $10 to $15 million through a pro rata share issue. This collaboration is set to bolster Metro’s New Zealand operations and growth in the Australian market.
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