First Growth Funds Announces Share Placement to Raise $3.45m

First Growth Funds Limited advised that it has entered a conditional placement agreement with Blockchain Global Limited (Blockchain Global) and other unrelated sophisticated investors to raise $3,453,990. The purpose of the placement is to raise funds to provide FGF with working capital and for funding to facilitate acquisitions of or investments in Blockchain technology, assets or businesses.

The Company has agreed to issue 282,257,907 shares at $0.012237 each (Placement Shares). The Placement Shares will be ordinary shares and will rank pari passu with all existing ordinary shares on issue. In addition, the Company has agreed to offer to investors in the Placement Shares a 1:1 attaching option exercisable at $0.03 within 2 years of issue (Placement Options). Full terms of the Placement Options are set out in Annexure A. A total of 282,257,907 Placement Options are to be issued.

The Placement Shares and Placement Options are not being issued in reliance on FGF’s existing capacity under Listing Rules 7.1 or 7.1A or under an exception in Listing Rule 7.2, rather they will be issued subject to and in reliance on shareholder approval to be sought at an upcoming general meeting.


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