logo-loader

Crest Minerals in $12M fund raiser for beverage acquisition

Last updated: 19:25 18 Jan 2016 AEDT, First published: 18:25 18 Jan 2016 AEDT

au_acquisition_350_569c7fc52ed65

Crest Minerals (ASX:CTT) has timed its change in corporate direction into the food and beverage sector well raising $12 million in an oversubscribed capital raising.

Crest will become the The Food Revolution Group (FOD) as result of a reverse takeover of food processing company, LangTech International Pty.

LangTech operates out of Victoria and New Zealand and manufactures juices, fibres, infused fruits, fruit waters and bioactives for sale as branded products and ingredients into the international food and nutraceutical markets.

The company's independent expert assessed normalised maintainable EBDITA assuming no growth A$2.2 – A$2.3 million for 2015.

As part of the RTO process, the company will need to re-comply with Chapters 1 and 2 of the ASX Listing Rules and allowing recommencement of trading in its shares.

Food and beverage companies are beneficiaries of increased demand for Australian supplies from China and sector share prices have been bid higher and higher.

 


Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

 

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

6 hours, 33 minutes ago