Broo Ltd. (AU:BEE) has released an update.
Broo Ltd. is set to rejuvenate its beer production with a new manufacturing agreement expected to be finalized soon, paving the way for the resumption of Australia Draught beer by June 2024. The company has also secured significant distribution partnerships in Australia and China, promising to expand its market presence with minimum annual order commitments ranging from AUD $420,000 to USD $2.4 million. Moreover, Broo Ltd. has reduced its quarterly net operating cash outflow by approximately 42.6% and is actively seeking capital investments to fortify its financial standing.
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