Brisbane-based manufacturer Bioxyne has secured commitments for an A$3 million capital raise aimed at funding expansion into Europe and supporting its growth targets in Australia.
The company intends to set up manufacturing facilities in the UK and Czechia while pressing ahead with its domestic growth strategy.
Bioxyne has provided revenue guidance of $25m for FY25.
Company directors contributed $110,000 to the raise, pending shareholder approval.
Bioxyne will issue 120 million shares priced at 2.5 cents each to a mix of new and existing institutional and sophisticated investors.
The People’s Plant
Queensland-based cultivator The People's Plant has pulled in A$1.1 million through its second crowdsource funding campaign on Birchal, topping the $1.03m it collected last October, with a full day of the offer remaining. A total of 534 investors participated in the raise.
Shares were offered at $1 each, with the company carrying a self-assessed valuation of A$23.31 million.
The capital will go toward building a drying room, post-harvest infrastructure, a storage room, and a laboratory, complementing the greenhouse and insect mesh installed after the previous Birchal campaign.
Cann Group
Cann Group has received the second tranche of a A$750,000 drawdown under its $15m convertible note facility with Obsidian Global.
The drawdown was structured in two portions. An initial $150,000 arrived earlier this month, followed by the current payment of $600,000.
This is the second drawdown Cann Group has accessed under the facility. In November 2023, the company drew down $2m, with $13m still available subject to further agreements.
