Convertible Note Raises $700,000
Released
Released
Announcement PDF
4 December 2023
ASX RELEASE
Cornerstone Shareholders Support
$700,000 Convertible Note Issuance
4 December 2023, Brisbane: The Calmer Co. International Limited (ASX:CCO), a
health and wellness company focussing on natural products that promote calmness,
support mind & muscle relaxation and improve sleep advises shareholders that the
company has raised $700,000 via convertible notes placed with top shareholders.
CEO, Anthony Noble said, “We have secured funding via a short-term convertible note
issuance to sophisticated investors all of whom are existing shareholders. This is an
overwhelming vote of confidence in the business from our cornerstone stakeholders.
Shareholders approved a capital raise of up to $2m at our recent AGM and these notes
will all convert to equity following the next share placement on terms detailed in the table
below.
We believe this plan is in the interests of shareholders. It provides short term funding to
the business while allowing the market time to evaluate the strong recent sales growth in
both the USA and Australia, along with the new kava-shots that will go onto shelves in
Coles from January.
These strong sales results should drive value in the business and put us in a good position
to raise capital in the new year.”
Details of Convertible Note Issuance
140 Convertible Notes have been issued on the following terms:
Note Face Value: $5,000
Interest Rate Per Annum: 10%pa fully capitalised at conversion
Conversion Date: within 10 days following the next share Placement
Conversion at Price Discount: 15% discount to the price of next Placement, or
Conversion to Fixed Equity Stake: 0.1% of shares on issue (post conversion) per note
Novus Capital was the lead manager on this capital raise and will receive a 6% brokerage fee
This release has been approved by the Board of Directors
ends
for further information
Investor & Media Relations
Matthew Reede
Dominion Communications
matt@dominion.partners
+61 414 483 054
about The Calmer Co.
The Calmer Co. International Limited (ASX:CCO), provides natural solutions to calm
nerves, support mind and muscle relaxation and induce sleep. The product range
includes drinking powders, teas, shots, concentrates and capsules. Sold under our
house of brands: Fiji Kava, Taki Mai and Danodan Hempworks in markets including
USA, Australia, China New Zealand and Fiji. The company is also the distributor of Leilo
kava drinks in the Fiji Islands.
forward looking statements
This ASX release includes certain forward-looking statements that are based on
information and assumptions known to date and are subject to various risks and
uncertainties. Actual results, performance or achievements could be significantly
different from those expressed in, or implied by, these forward-looking statements.
Such forward-looking statements are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors, many of which are
beyond the control of Fiji Kava. These factors may cause actual results to differ
materially from those expressed in the statements contained in this announcement.
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