MILDURA Brewery owners Broo has told investors it intends to raise more funds.
The Langtree Avenue-based brewer, listed on the Australian Securities Exchange, was put into a trading halt this week pending an announcement about a proposed capital raising.
It was expected the trading halt would last until the announcement was made or Wednesday’s opening of markets.
Broo earlier this month announced a production deal with Carlton & United Breweries (CUB) that included ordering 48,000 cases to be produced by CUB each quarter, starting in October.
The company said the CUB deal would cover the Broo Premium Lager and Australia Draught brands, freeing its Mildura site up for craft beer production.
Broo previously raised $200,000 by issuing new equity in the June quarter.
