Althea Group Holdings (ASX:AGH) received binding commitments to raise AU$2 million through the issuance of 2 million unsecured loan notes at AU$1 each, according to a Tuesday filing with the Australian bourse.
Subject to shareholder approval, the notes can be converted to about 66.7 million shares at AU$0.03 each, the filing said.
The funds will support the expansion of the company's Peak Processing Solutions unit in Canada, including supply chain improvements and increased manufacturing capacity.
The company also plans to issue 25 million unlisted options with an exercise price of AU$0.04 and expiry of Feb. 28, 2027.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.