News: 3MF 3D Metalforge Ltd Announces Proposed Funding Restructure Announcement

Sept 23 (Reuters) - 3D Metalforge Ltd (3MF) :

• PROPOSED FUNDING RESTRUCTURE ANNOUNCEMENT
• LAUNCHES NEW EQUITY FUND RAISING ROUND TO RAISE UP TO A$2.1M
• HAS RESTRUCTURED ITS FINANCING TO SUPPORT GROWTH OF CURRENT OPPORTUNITIES, SUCH AS ITS 4-YEAR CONTRACT WITH WOODSIDE ENERGY
• SHAREHOLDERS AND INVESTORS AGREED TO CONVERT A$800K OF DEBT INTO EQUITY AS PART OF FUNDAMENTAL RESTRUCTURING OF BALANCE SHEET
• EXPECTS NET CASH USED FOR OPERATING ACTIVITIES TO REDUCE BY OVER 25% AT Q4 2022
• DEBT SHALL BE CONVERTED AT SAME PRICE OF NEW PROPOSED EQUITY RAISE AT A$0.011 PER SHARE