Brief: Mighty Kingdom Announces Recapitalization & Restructuring With Strategic Investment

Fortifai

04/08/2022 01:08

Aug 4 (Reuters) - Mighty Kingdom Ltd  MKL.AX :
    * TO RECAPITALISE AND RESTRUCTURE WITH STRATEGIC INVESTMENT
    * IMMEDIATE FOCUS ON SUSTAINABILITY OF CURRENT BUSINESS
MODEL TO
DELIVER CASH-FLOW BREAK EVEN BY Q3FY23
    * CAPITAL RAISING SEES NEW, STRATEGIC INVESTMENT IN MIGHTY
KINGDOM
BY AN ENTERTAINMENT AND MEDIA ENTREPRENEUR
    * GOT FIRM COMMITMENTS FOR SHARE PLACEMENT TO RAISE A$7.0M
(BEFORE
COSTS) AT A$0.035 PER SHARE
    * UNDERTAKING SIGNIFICANT REFOCUS & RESTRUCTURE OF ITS
BUSINESS
PLAN, MANAGEMENT, AND BOARD WITH INTENT OF DELIVERING
SHAREHOLDER VALUE

Source text for Eikon:  ID:nASX3YhTqW 
Further company coverage:  MKL.AX 

 ((Reuters.Briefs@thomsonreuters.com;))