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Forbidden Foods Ltd ( (AU:OMG) ) has provided an update.
OMG Group Ltd has secured $2 million in funding through the issuance of 200 million new shares to enhance its inventory and meet the rising demand for its Blue Dinosaur and Oat Milk Goodness products. This funding will support the company’s expansion in major Australian retail outlets such as Woolworths, 7-Eleven, and Quikstop, and bolster its multi-channel sales strategy, which has already seen a significant increase in ecommerce sales. The capital will also be allocated to sales and marketing efforts, operational costs, and general working capital, positioning OMG Group as a leading player in the FMCG ‘Better-for-You’ category.
More about Forbidden Foods Ltd
OMG Group is a health & wellness food company focused on providing clean, sustainable, and healthy products. The company’s primary brands include Blue Dinosaur and Oat Milk Goodness, catering to the growing consumer demand for better-for-you food options.
Average Trading Volume: 51,618,924
Technical Sentiment Signal: Sell
Current Market Cap: A$8.74M
See more insights into OMG stock on TipRanks’ Stock Analysis page.