Global Fortune Investment is seeking to raise $3.9 million through an initial public offering (IPO), selling 13 million shares at $0.30 cents per share to fund its expansion into the China-Oceania agriculture, food and beverage business. An additional 13.7 million shares will be available for oversubscription with the potential to raise an additional $4.11 million.
The company has current interests in gold prospecting in Western Australia under its Yarri Range Project that spans 97.2 square kilometers in the Eastern Goldfields region – an area which independent studies have determined has high probably for the discovery of meso-thermal gold mineralization.
The company’s strategic plan however, is to grow to become a multi-tiered Chinese-Australian investment vehicle able to become a participant in the growing China-Oceania agriculture, food, and beverage business. If the company achieves a sizeable oversubscription, it will enable the group to fast-track its plans for agricultural expansion beyond its initial scale.
Using its strategic partnership with China-based Shenzhen Yuhua Xinnong Resources Management Co. Ltd., operator of an online agricultural products trading platform, Global Fortune Investment hopes to capitalize upon China’s growing population, its rising per capita income, and emergence as a leading food and beverage consumer market. In addition, online agricultural and food business models are expanding at a rapid pace, and the group plans to use the platform to facilitate the sourcing, marketing, and trading of food and agricultural products.
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