3D Metalforge: Receives $2.12m via placement

3D Metalforge Receives $2.12m via placement

• 3D Metalforge (3MF) announces firm commitments from institutional investors to raise $2.12 million for accelerating its next stage of growth
• The placement will issue around 47m new shares at an issue price of 4.5 cents per share, representing a 10 percent discount to the last closing price of five cents
• The placement offer also includes three-to-two free attaching options, exercisable at nine cents with expiry five years from the date of issue
• Funds will be used towards the company’s growth initiatives in new key hubs in the US and Australia, and fulfilling exisiting contracts and converting business prospects
• 3MF shares are down two per cent at market close, trading at 4.9 cents