Foresta Group Holdings announces placement increase

Foresta Group Holdings (ASX:FGH) has announced an increase in its recent placement from $1.1 million to $1.15 million. The company will issue 230,000,000 new shares at $0.005 each to sophisticated investors and directors, subject to shareholder approval. Each share includes an option exercisable at $0.02 with a two-year expiry.

Foresta Group Holdings placement and strategic outlook

Foresta Group Holdings (ASX:FGH) has increased its placement size, reflecting its strategic goals in the renewable pine chemical and biomass market. The issuance of new shares and options, totaling 230,000,000, is expected to enhance the company's capital structure. Foresta's unique extraction process for pine chemicals positions it well in sustainable manufacturing. The expected settlement date for the placement is December 3, 2024. The company's ambitions remain focused on expanding its global supply capabilities while maintaining its innovative edge in the industry.

Executive commentary on Foresta's placement

Executive Chairman Henry Cheng and Executive Director Dr. Maurice Fabiani will participate in the placement under the same terms as other investors.