Ann: Capital Raising, Capex Program and Q3 Strategy Update, page-5

.. “The market for beer in can format is in significant growth, currently representing 11% of the craft beer market and growing rapidly at 134% per annum (Source: IRI: MAT to 03/03/2019).

Using our small-scale pilot canning line, we have released Single Fin Summer Ale, Alby Draught and Alby Crisp in can format and received overwhelmingly positive feedback and support from our independent retail customers and consumers.

The Company is further looking to launch a number of exciting new brands in can format for this upcoming summer season.

Over time the Company expects beer in can format to form up to 25% of the Company’s proprietary brand sales.

The new can filler, bottle filler and plant improvements provide cost efficiencies and reduced waste. With this new machinery installed, the Company is targeting additional earnings of $1.5 million to $2.5 million by FY22.

Managing Director John Hoedemaker was pleased with the confidence in the business and the strategy: “The strong support from the investment community is both indicative of the success of the proprietary brand strategy as well as a vote of confidence for the Company’s capital expansion program that is designed to deliver incremental earnings to all shareholders.”


Placement

The Placement will comprise the issue of 84.2 million fully paid ordinary shares (“New Shares” at an issue price of $0.095 per New Share to institutional and sophisticated investors, raising $8.0 million (before costs).”