Murray River Organics

Canaccord Genuity acts as Joint Lead Manager and Underwriter on AUD$25.0 million capital raising for Murray River Organics Group Limited (ASX:MRG)

Canaccord Genuity Australia is pleased to announce the completion of an underwritten accelerated pro rata renounceable entitlement offer raising gross proceeds of AUD$25.0 million for Murray River Organics Group Limited (“MRG”). The transaction was supported by both new and existing institutional and retail investors.

MRG is Australia’s largest vertically integrated producer of organic dried vine fruit and manufacturer of certified organic and ‘better-for-you’ food products distributed both domestically and internationally. The business’ growth strategy is primarily focused on branding and high margin product development for distribution across national retail channels, while reducing its farming exposure to its core performing dried vine fruit farms.

The net proceeds of the capital raise will enable the restructuring and resizing of the existing debt facility and provide capital to execute the Company’s branded food product growth strategy.

Canaccord Genuity Australia acted as Joint Lead Manager and Underwriter for the capital raising. The Canaccord Genuity team included Sam Robinson and David Lenormand from Corporate Finance, supported by Will Morley from Institutional Sales.