Cacola

Cacola: Proposed placement of 19.6m shares @ $0.032 (10% discount to VWAP of last trading day) to Advance Opportunities Fund. Gross proceeds of $629.3k will be used mainly for exploration of new investment opportunities, payment of fees and general working capital. In addition, Cacola entered into a settlement agreement to repay an aggregate $548.3k debt through the issuance of 17.1m shares. The aggregate 36.7m new shares will increase existing share capital by 10%. Advance Opportunities' director Tan Choon Wee was previously Head of Dealing at RHB Securities and is familiar within Elektromotive Group and Contel as the Exec Director of both companies. In Jun, the furniture manufacturer entered into an agreement to acquire a chinese gold mine that would result in a reverse takeover of Cacola. While the MOU had lapsed on 31 Jul, Cacola is still engaged in ongoing discussions with the vendor of the gold mine. Proceeds from the share placement as well as the pare down of debt may aid to push the company forward on its next leg. Consequently, renewed interest from investors may spark a positive uptake on its share price.