HGL Limited announced that it will issue 45,454,536 shares at a price of AUD 0.33 per share for gross proceeds of AUD 14,999,997 on November 26, 2021. The transaction will include participation from new and existing eligible institutional and sophisticated shareholders. The transaction will be completed in two tranches. The first tranche of 22,451,514 shares for proceeds of AUD 7,400,000 is expected to be completed on or before November 30, 2021 and the second tranche of 23,003,022 shares for proceeds of AUD 7,600,000 is expected to be completed on or before February 9, 2021. The second tranche is subject to shareholder approval.