Medi Lifestyle Reports Placement Proceeds Utilization Update

MT Newswires

Sep 17

Medi Lifestyle (SGX:Z4D) has utilized SG$613,000 of the SG$8.6 million net proceeds raised from its August share placement, leaving SG$8 million available.

The company used SG$456,000 to repay a shareholder loan and SG$157,000 for general working capital, including continuing listing expenses, professional fees and general overheads.

Medi Lifestyle said SG$6.01 million remains earmarked for business development and expansion opportunities, including project financing, strategic investments, mergers and acquisitions and strategic partnerships.

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