TORONTO, ON / ACCESSWIRE / September 30, 2020 / First Growth Funds Limited (CSE:FGFL) "(Company") is pleased to announce an investment in rare earth resource company Vital Metals Limited (ASX:VML). Vita Metals has a resource in Nechalacho (Canada) and Wigu Hill (Tanzania). Vital Metals recently completed a $8M placement and First Growth Funds received circa 1% of the allocation due to heavy demand by other investors. First Growth Funds is already showing a 25% premium on its investment.
On August 11, the Company investment in listed resource company Golden Deeps (ASX:GED). First Growth Funds is pleased to announce it has recently sold its investment booking 35% profit. The Company continues to hold the free attaching listed options.
On August 21, the Company announced an invested in ecommerce solutions provider RooLife (ASX: RLG). RooLife recently announced another contract, taking total contract value won since March 2020 to $10.6m (subject to minimum sales targets). The recent contract with INIKA Organic is expected to deliver $2.5m in revenue over a three-year period, comprised of guaranteed service fees and the balance subject to sales targets being met. RooLife has an enterprise value of less than $10m and will have an estimated $7m cash to accelerate growth further.
First Growth Funds is actively working on new opportunities and will provide further update in due course.
About First Growth Funds Limited
First Growth Funds Limited invests across a broad range of asset classes including listed equities, private equity, blockchain and digital assets. The company also operates an advisory business providing corporate advisory, capital raising and capital markets support to its portfolio. www.firstgrowthfunds.com
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
FORWARD LOOKING INFORMATION
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SOURCE: First Growth Funds Limited
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