Calmer Co International (ASX: $CCO) capital raise details

The Calmer Co International Limited (ASX: $CCO) has successfully closed its renounceable rights issue, raising approximately $2 million and has also undertaken a follow-on placement to raise an additional $880,000. The company will issue 724,999,970 new fully paid ordinary shares and 362,499,985 new options exercisable at $0.006, with an expiry date of 30 June 2026 and quoted under the ASX code CCOOA. The proceeds from the capital raise will be used for capital expenditure, inventory expansion, marketing and brand promotion, and general working capital.

Executive commentary on capital raise and future plans

Dr Anthony Noble, Managing Director and Chief Executive Officer of The Calmer Co, expressed gratitude to the shareholders for their support during the rights issue, demonstrating their commitment to the company. He highlighted the importance of the fundraising, stating that it will allow the company to upgrade its facility in Navua to increase production capacity and contribute to scaling and margin improvement. Dr Noble emphasized the company's commitment to rigorous cost control and focus on the highest margin, most scalable channels as they drive towards their breakeven target and beyond.

Summary of capital raise and outlook

The Calmer Co International Limited (ASX: $CCO) has successfully closed its rights issue and follow-on placement, raising a total of $2.9 million. The funds will be used for capital expenditure, inventory expansion, marketing and brand promotion, and general working capital. The company's Managing Director highlighted the significance of the fundraising, emphasizing the planned upgrade of the Navua facility to increase production capacity and contribute to scaling and margin improvement. The company remains committed to rigorous cost control and focusing on high-margin, scalable channels as they work towards their breakeven target and future growth.