Chill Brands Group PLC - Grand Junction, Colorado-based cannabidiol products - Raises GBP212,201 through an open offer of 1.8 million units at a price of 12 pence each.
Each open offer unit comprises one new share and five unsecured convertible loan with a principal amount of 2 pence each.
"We're delighted with the result of this open offer and are grateful to our shareholders for their continued support. Amidst a very challenging market, Chill Brands is well-capitalised and focused on sustainable growth. The proceeds of the open offer will be put to good use in further expanding our brands through strategic marketing initiatives and the continued development of our sites," said Chief Executive Officer Callum Sommerton.
Current stock price: 2.38 pence, up 5.9% on Friday
12-month change: down 96%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Chill Brands (CHLL)