Cooks Global Foods Limited has successfully raised $3,099,534 by issuing 103,317,794 new ordinary shares.
36,250,000 of the existing ordinary shares were reclassified as non-voting shares in compliance with the Takeovers Code, bringing the total number of shares on issue to 731,151,625.
CGF will seek to place the remaining shortfall in the rights issue of up to 210,599,122 shares for not less than 3 cents per share within 3 months of today.
The company is also working to finalise agreements with lenders and creditors to convert further debt into shares.
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