Melodiol Global Health's capital raise and funding update

Melodiol Global Health Limited (ASX: $ME1) has successfully raised $1.1m in new capital through an equity placement and a loan. The unaudited H1 2024 revenues of $9.3m marked a 33% increase on H1 2023. The equity placement received firm commitments to raise approximately $530,000 through the issue of 181,683,449 new shares at a Placement price of $0.00292 per Share. Simultaneously, the Company drew down $600,000 from the $2,000,000 LTC loan facility, approved by shareholders at the Annual General Meeting on 31 May 2024.

CEO and Managing Director's perspective on the capital raise

CEO and Managing Director, Mr William Lay said: 'We are grateful for the continued support of our investor base as we progress the business. Our revenues for the half year show that we have built a strong base at Melodiol, and the announced non-binding LOI for the sale of a core asset for $12m in initial cash consideration demonstrates the quality of the assets within the portfolio. We look forward to providing further updates in due course.'

Summary of Melodiol Global Health's capital raise and outlook

Melodiol Global Health (ASX: $ME1) has successfully raised $1.1m in new capital through an equity placement and a loan, indicating investor confidence in the company's growth prospects. The funds will be utilized towards select business unit growth opportunities, corporate costs, and costs of the Placement. The Company also confirmed drawing down $600,000 from the $2,000,000 LTC loan facility. The CEO's positive outlook on the business and the non-binding LOI for the sale of a core asset for $12m in initial cash consideration reflect the company's commitment to progress and potential future developments. Melodiol Global Health aims to continue providing updates on its advancements, demonstrating its dedication to enhancing shareholder value and pursuing strategic opportunities.