Gage Roads Brewing Co. is raising $5.2 million in a “proactive” capital raise on the ASX as it looks to “create a stronger platform for future profitability”.
Beleaguered listed brewery Broo has been placed in a trading halt after the ASX queried a recent share price spike.
Embattled ASX-listed brewer Broo has blamed COVID-19 for sales decline in third quarter, which also saw a $400,000 share sale by executive director Kent Grogan.
Joining its lineup of craft beer, spirits and kombucha brands, Founders First has spent $1.5 million to buy Kangaroo Island Distillery.
Troubled ASX-listed brewer Broo has announced that it has narrowed its quarterly operational losses, while its new CFO has acquired a large parcel of shares from founder Kent Grogan.
East coast growth and broadening its offering further beyond beer are on the agenda for Gage Roads Brewing Co in its half year results.
Kent Grogan divested 10% of his voting power and has netted nearly $1 million in a share sale, the same day the beleaguered company committed to another share placing to improve working capital.
Embattled ASX-listed Broo is in the red in the first quarter of its financial year, reporting negative cash assets of $290,000, as executive director Kent Grogan makes another off-market share sale to keep the business afloat.
Troubled ASX-listed brewer Broo is set to offload its Mildura brewing operations and has put hospitality businesses up for sale as it looks to contract brewing after a year of losses amounting to $3.2 million.
Embattled ASX-listed brewer Broo is pinning its domestic sales hopes on a Queensland distribution agreement which it says will have a 2 million litre sales target.