Calmer Co International completes top-up placement

The Calmer Co International Limited (ASX: $CCO) has successfully completed a top-up placement of $515,000 to sophisticated investors. The placement, which was fully subscribed, aims to support inventory growth and accelerate the company's ecommerce sales trajectory into Q4. CEO Anthony Noble highlighted the need for additional capital to expand sales channels in the USA and increase inventory holding to support the company's growth.

CEO Anthony Noble on completion of top-up placement

The company received several expressions of interest to participate in the fully subscribed placement of $1m, completed on 12th February 2023, after the offer had closed. Given our continued expansion of sales channels in the USA and the need to further increase inventory holding to support this, the board has agreed to take on additional capital at the higher price of $0.005. This funding will support inventory growth and allow us to continue to accelerate our ecommerce sales trajectory into Q4.

Summary of Calmer Co International's top-up placement

The Calmer Co International Limited (ASX: $CCO) has successfully completed a top-up placement of $515,000 with shares priced at $0.005. The placement, led by Novus Capital, aims to support inventory growth and accelerate the company's ecommerce sales trajectory into Q4. Investors will receive one attaching CCOOA Option per share, subject to shareholder approval. The company's CEO, Anthony Noble, emphasized the importance of the funding to expand sales channels in the USA and increase inventory holding to support the company's growth. The completion of the top-up placement reflects the company's commitment to strengthening its financial position and pursuing its strategic objectives.