Pure Foods Tasmania Raises $1.76 million in Oversubscribed Placement, Strengthens Balance Sheet

Pure Foods Tasmania Limited (ASX: PFT) announced the successful completion of a heavily oversubscribed capital raise, securing approximately $1.76 million, exceeding the original $1.36 million target by $400,000 . The raise included $1.19 million in shareholder loan conversions to equity, materially improving the balance sheet, while $610,000 was subscribed by directors, demonstrating strong board commitment . In total, 127.5 million new shares and options will be issued, with an additional 19.9 million shares and options allocated under ASX listing capacity .

The announcement coincided with preliminary FY25 unaudited results, showing a reduced net loss of $2.8 million, down from $3.9 million in FY24. Cost-saving measures delivered $1.9 million in annual efficiencies, while gross margins improved significantly from 110% of revenue to 76%. PFT also rationalised unprofitable product lines and introduced a broker distribution model. Management highlighted that these actions set a stronger platform for profitability, margin expansion, and potential strategic MD&A.

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