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The Food Revolution Group has received a $1.89 million bridge fund from Chairman Dr. Norman Li.
The funding in part of the remaining $16.74million of Dr Norman’s $20.25 million subscription agreement commitment with FOD whilst the Company arranges the Notice of Meeting to receive shareholder approval.
The funding agreement will enable FOD to continue to upgrade its Mill Park facility, conduct R&D on its proposed export products and provide flexibility to increase production after the first run of Canola oil under the Sinopec agreement.
Please find the full ASX announcement attached https://hotcopper.com.au/threads/ann-fod-receives-further-funding-and-signs-distribution-deal.4667367/
