Funtastic Limited
(ASX:FUN) has announced the successful completion of a placement to raise $1.05 million through the issue of 52.5 million new shares to new and existing investors.
The placement was priced at $0.02 cents per share, which was a 10.7 per cent discount to where the shares closed on 31 March 2015.
The new shares are expected to be issued in ten days time and will rank equally with other fully paid shares on issue.
Proceeds from the placement will be put towards the development and global distribution of its own brands.
Funtastic reported a net loss of $37.53 million at 30 July 2015.
