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ROOLIFE GROUP LTD — Capital/Financing Update 2024
Sep 23, 2024
65712_rns_2024-09-23_3ffa14c5-ea78-4539-941a-3d642c19d7d5.pdf
Capital/Financing Update
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24 September 2024
Successful Completion of the Entitlement Offer
Roolife Group Ltd (ASX: RLG, “ Roolife ” or “ the Company ”) is pleased to announce that the renounceable rights issue announced on 28 August 2024 has closed, raising $1,500,000 (before the costs). The Company will issue 375,000,000 new fully paid ordinary shares (“ Shares ”) and 187,500,000 new options exercisable at $0.01, with expiry date of 26 September 2026 (“ Options ”). The Options have been quoted under the ASX code RLGO.
The Company would like to thank all shareholders for their support of the rights issue, particularly in these difficult times, and would like to welcome new investors to the register.
It is noted that the Company’s directors and management took up their entitlements and also participated in the shortfall, demonstrating their strong commitment to and confidence in the company’s business and its future.
The final allocations are set out below:
| Funds Raised | Shares* | Options* | |
|---|---|---|---|
| Rights taken up | $319,190 | 79,797,560 | 39,898,780 |
| Shortfall | $1,180,810 | 295,202,440 | 147,601,220 |
| Total | $1,500,000 | 375,000,000 | 187,500,000 |
*The number of new Shares and Options issued is subject to rounding. A further 15,000,000 Options will be issued to the Underwriter as described in the Prospectus.
The net proceeds will enable the Company to continue the expansion and reach of its sales platform in both existing and new markets and with development already underway on key projects, the Company expects to provide an update to the market on this in the near future. Funding will also be applied towards marketing and servicing sales demand for the Company’s higher-margin, high-demand products, including the Company’s own food and health brand VORA and RLG’s own beer brand “RLG Kangaroo Beer” with sales already being achieved.
Mahe Capital Pty Ltd acted as Lead Manager and Underwriter to the rights issue.
The new securities are expected to be issued on Thursday, 26 September 2024, in accordance with the timetable in the prospectus. The Directors and the Lead Manager reserve the right to place any shortfall shares at their discretion within 3 months of the closing date.
Issued by : RooLife Group Ltd
Authorised by: The Board of RooLife Group Ltd
For further information, please visit the RooLife website at www.roolifegroup.com.au or contact:
Bryan Carr Managing Director Ph: +61 8 6444 1702 Email: [email protected]
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