- Range International (RAN) begins the week in a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until August 25 or when more details regarding the raise are released, which ever occurs first
- In its recent half-year report, Range recorded revenue of US$984,000 (A$1.37 million) up 73.5 per cent from the prior corresponding period
- As of June 30, 2021, the company had cash and cash equivalents of US$680,000 (AS$949,212)
- Shares in Range last traded at 1.3 cents
Range International (RAN) has begun the week in a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until August 25 or when more details regarding the raise are released, which ever occurs first.
Range is yet to disclose how much it intends to raise or what it will use the funds for once received.
In its recently released half-year report, the company recorded revenue of US$984,000 (A$1.37 million), up 73.5 per cent from the prior corresponding period (pcp).
Range also reported a net loss of US$1.38 million (A$1.92 million), down 23.4 per cent from the pcp.
As of June 30, 2021, the company had cash and cash equivalents of US$680,000 (AS$949,212).
Range last asked investors for cash in January when it undertook a $1.8 million placement.
The funds were raised through the issue of 90 million fully paid ordinary shares to sophisticated and professional investors at two cents.
Participants also received one free attaching unlisted option for every two shares subscribed for.
Once received, Range used the funds to support improvements in raw material procurement and plastic processing as well as increase production capacity.
Shares in Range last traded at 1.3 cents.