• Fully underwritten 1 for 1 accelerated non-renounceable entitlement offer to raise ~$18.6 million
• Funds to be used for general working capital, growth capital, and restructuring/rightsizing costs
• Substantial shareholders Regal and Paton to participate and sub-underwrite the offer

Murray Cod Australia Limited (ASX:MCA) is pleased to announce a fully underwritten 1 for 1 accelerated non-renounceable entitlement offer to raise ~$18.6 million (Entitlement Offer) at an issue price of $0.15 per share. The funds will be used for general working capital to provide funding runway and enable the Company to convert its 3,700t biomass into cash, growth capital to expand processing capacity and product formats, restructuring and rightsizing costs, and costs of the offer. The Issue Price represents a 42.9% discount to the last traded price, 49.1% discount to the 10-day VWAP, and 27.3% discount to the theoretical ex-rights price. The Entitlement Offer will result in the issue of approximately 123.9 million new fully paid ordinary shares, which is expected to constitute 50% of the Company's shares on issue following completion. Substantial shareholders Regal Funds Management and Chairman Brett Paton have committed to take up their full entitlements and sub-underwrite the offer, demonstrating their continued support for the Company and its strategy.