Wide Open Agriculture (WOA) is launching a security purchase plan (SPP), aiming to raise up to $500,000 before costs. The offer includes up to 21,739,130 shares at $0.023 per share, coupled with free-attaching listed options (exercisable at $0.03, expiring July 19, 2026) on a 1:2 basis. The SPP is open to eligible shareholders with a registered address in Australia or New Zealand as of May 8, 2025.
The funds are earmarked for several key areas: sales and marketing ($100,000), production ramp-up ($250,000), by-product development (Lupin Fiber and Lupin Oil) ($100,000), and general working capital plus offer costs ($50,000). The SPP follows a two-tranche placement, with Tranche 1 already completed, raising $2,550,000. Tranche 2, aiming for an additional $45,000, is contingent upon shareholder approval at the upcoming General Meeting around July 3, 2025. The issuance of SPP Securities is also subject to Shareholder approval at the same General Meeting.
