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79.95
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Gold
2,402.10
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41.42
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Iron Ore
103.15
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40,415.44
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39,725.54
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Iron Ore
103.15
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Frugl Group (ASX:FGL) secures private placement funding

Frugl Group private placement announcement


Frugl Group Limited (ASX:FGL) has successfully completed a private placement, raising approximately $225,000 through the issuance of 26,570,588 fully paid ordinary shares to Mulloway Pty Ltd at a price of $0.0085 per share. The placement was made at a 17% discount to the 5-day Value Weighted Average Price (VWAP) of the Company's Shares as at 20 November 2023. The funds raised will primarily support the commercialization of the Frugli Market Analytics Retail Platform, expansion of the Frugli Market platform into Asia, and general working capital. The shares issued are subject to voluntary escrow for 12 months from the date of issue.

Managing Director's statement on the private placement


The Frugli Board is delighted to receive investment from Mr. Poynton. Mr. Poyton's many years of experience in global capital markets and dedication to community service align with Frugl's strategic agenda and core values. We are excited to continue our close working relationship with him as we look forward to a period of growth and success for our company.

Frugl Group's outlook and utilization of funds


Frugl Group Limited (ASX:FGL) has successfully secured approximately $225,000 through a private placement to Mulloway Pty Ltd. The funds raised will be primarily utilized to support the commercialization of the Frugli Market Analytics Retail Platform, expansion of the Frugli Market platform into Asia, and general working capital. The shares issued are subject to voluntary escrow for 12 months from the date of issue. The company's strategic alignment with Mr. Poynton, a highly respected figure with extensive experience in global capital markets, is expected to contribute to Frugl's growth and success in the future.

Sourcehttps://announcements.asx.com.au/asxpdf/20231123/pdf/05xpmz5wg8y4y1.pdf

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