Veganz Group AG Secures €10m to Expand Mililk® Production

Veganz Group AG has signed a "Securities Purchase Agreement" with Global Corporate Finance LLC (GCF) to secure equity financing of up to €10 million. This agreement allows Veganz to scale up its production capacities for Mililk®, an innovative milk alternative, and "Peas On Earth," a pea protein-based meat substitute.

The contract provides for a flexible and staggered use of financial resources depending on the trading volume of Veganz shares, over a 30-month period. Funds will be raised through the issuance of new shares, valued based on share prices at the time of retrieval.

This financing aims to optimize and automate production processes, enabling Veganz to increase Mililk® production by a factor of five to meet growing demand. The capital increase subscribed by VeGreat LLC in September 2023 remains unaffected and will proceed in parallel.