- Fiji Kava (FIJ) ends the week in a trading halt while it plans an upcoming capital raising
- The company will remain in the halt until August 3 or when more details are released, whichever occurs first
- On July 27, Fiji Kava announced it had partnered with Chemist Warehouse to expand its presence in Australia, New Zealand and Ireland
- The company last entered a trading halt in September 2020 regarding a $4.58 million placement
- Shares in Fiji Kava last traded at 11.5 cents on July 28
Fiji Kava (FIJ) has ended the week in a trading halt while it plans an upcoming capital raising.
The company will remain in the halt until August 3 or when more details are released, whichever occurs first.
Fiji Kava is yet to disclose how much it intends to raise or what it will use the funds for once received.
On July 27, Fiji Kava announced it had partnered with Chemist Warehouse to expand its presence in Australia, New Zealand and Ireland.
Under the partnership, Chemist Warehouse will provide sales and marketing services to expand Fiji Kava’s presence in Australia and New Zealand and launch in Ireland.
Chemist Warehouse will take up a 10 per cent stake in Fiji Kava by investing $1.43 million, receiving up to 12,995,454 FIJ shares.
Fiji Kava last entered a trading halt in September 2020 regarding a $4.58 million placement.
A total of 25,491,766 new shares to institutional, sophisticated and professional investors at 18 cents.
The company used the funds to enhance its financial flexibility and provide working capital to support its growth.
Shares in Fiji Kava last traded at 11.5 cents on July 28. The company has a $14.94 million market cap.