Source: Pearl Global
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Pearl Global (PG1) enters a trading halt, as the market awaits more news in regards to a capital raise
  • Trading in the company’s shares will be paused until this Friday or once company releases more details into the funds being raised
  • The company last raised funds at the end of December, which was directed towards plant and site infrastructure to improve production efficiency
  • After recording negative cashflow, PG1 noted its results would improve with high production volumes
  • Shares in the company were last trading at 2 cents each

Pearl Global (PG1) has entered a trading halt, as the market awaits more news in regards to a capital raise.

Trading in the company’s shares will be paused until this Friday or once company releases more details into the funds being raised.

It is unknown how much is going to be raised or where the new funds will be spent.

The company last raised funds at the end of December, where it received $5 million through an entitlement offer. The money was spent towards plant and site infrastructure in order to improve production efficiency.

In its last quarterly report, the company recorded cash flow of $2.7 million, with its research and development weighing heavily on its expenses.

It finished the period with 3.76 million, which was estimated to last under two quarters. The company noted its cashflow would improve with high production volumes.

Shares in the company were last trading at 2 cents each.

PG1 by the numbers
More From The Market Herald
The Market Herald Video

" Aurora Energy Metals (ASX:1AE) defies market pressures with solid ASX debut 

Aurora Energy Metals (ASX:1AE) continues to defy market pressures on day two of trading, with shares up…
Invictus Energy (ASX:IVZ) - Non Executive Chairman, Dr Stuart Lake

" Invictus Energy (ASX:IVZ) enters trading halt for capital raise

Invictus Energy (ASX:IVZ) has placed its shares in a trading halt pending the release of a…
Australian Vanadium (ASX:AVL) - Managing Director, Vincent Algar

" Australian Vanadium (ASX:AVL) enters mid-week trading halt

Australian Vanadium (ASX:AVL) has entered a mid-week trading halt pending an upcoming capital raising.
The Market Herald Video

" Capital raising and IPO news: Orcoda (ASX:ODA) raises for vehicle buy

Logistic tech business Orcoda (ASX:ODA) raised just over $1.25 million through a placement and share purchase plan to…