Brief: 3D Metalforge Ltd Announces Proposed Funding Restructure Announcement

3D Metalforge

23/09/2022 02:29

Sept 23 (Reuters) - 3D Metalforge Ltd  3MF.AX :
    * PROPOSED FUNDING RESTRUCTURE ANNOUNCEMENT
    * LAUNCHES NEW EQUITY FUND RAISING ROUND TO RAISE UP TO
A$2.1M
    * HAS RESTRUCTURED ITS FINANCING TO SUPPORT GROWTH OF
CURRENT
OPPORTUNITIES, SUCH AS ITS 4-YEAR CONTRACT WITH WOODSIDE ENERGY
    * SHAREHOLDERS AND INVESTORS AGREED TO CONVERT A$800K OF
DEBT INTO
EQUITY AS PART OF FUNDAMENTAL RESTRUCTURING OF BALANCE SHEET
    * EXPECTS NET CASH USED FOR OPERATING ACTIVITIES TO REDUCE
BY OVER
25% AT Q4 2022
    * DEBT SHALL BE CONVERTED AT SAME PRICE OF NEW PROPOSED
EQUITY
RAISE AT A$0.011 PER SHARE

Source text for Eikon:  ID:nASXblSggY 
Further company coverage:  3MF.AX 
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