Argonaut acted as Lead Manager to successfully raise A$8.0 million for Gage Roads brewing Co Limited (ASX:GRB) (“Gage Roads” or the “Company”). The Company raised funds from new and existing domestic institutional and professional investors by way of a $8.0 million Placement (“Placement”) at an issue price of A$0.095 per share. The Placement was oversubscribed.
Gage Roads has confirmed that funds raised pursuant to the Placement will be used towards the implementation of the Company’s packaging line expansion program, which includes the installation of a new commercial scale canning line, a new high-speed bottle filler and other plant improvements.
Argonaut is delighted to continue to provide support to Gage Roads and looks forward to our ongoing work with the Company.
Additional information regarding Gage Roads can be found on the Company’s website at www.gageroads.com.au