Forbidden Foods (ASX:FFF) received firm commitments to raise AU$1 million through the issue of 142.9 million shares priced at AU$0.007 apiece, according to a Friday filing with the Australian bourse.
Participants will receive a free attaching listed option for every two new shares subscribed for under the placement, with an exercise price of AU$0.015, expiring on Oct. 25, 2027, subject to shareholder approval.
Non-Executive Director Daniel Rootes committed to subscribe for roughly AU$21,000 of shares, pending shareholder approval, the filing said.
Proceeds will be used to boost inventory in the Blue Dinosaur and Oat Milk Goodness product ranges in the Australian market, according to the filing.
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