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FOX MARBLE EXPANDS REACH WITH NEW SALES AGREEMENT

Fox Marble has announced the signing of a three-year Sales and Purchase Agreement for the distribution of the company’s marble into GCC nations

Fox Marble, (AIM:FOX), the AIM listed company focused on marble quarrying and finishing in Kosovo and the Balkans region, has announced the signing of a three-year Sales and Purchase Agreement for the distribution of the company’s marble into GCC nations, with a minimum commitment under the Agreement equating to approximately €600,000 to €800,000 per annum.

Chris Gilbert, CEO of Fox Marble, stated: “This agreement clearly demonstrates not only the international recognition of our marble but also our continued ability to deliver large block orders, as demand increases and we expand into new markets.”

Additionally, Fox Marble also announces today its intention to raise approximately £3 million with new and existing shareholders through a combination of shares and convertible loan notes, with net proceeds to be used to retire existing debt of the Company and increase production at the quarries and processing factory.

Commenting on the capital raise, Chris Gilbert said: “The funds raised will considerably strengthen our position, enabling us to deliver on our plans for sustained growth, as we look to accelerate the development of our quarries and processing capabilities. We now enter 2018 well-placed to meet the expected demand for our products and look forward to updating the market in due course.”

https://www.foxmarble.net/

 

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