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CANDY CLUB HOLDINGS LIMITED - Corporate Spotlight

Candy Club is a leading specialty market confectionary company which operates a wholesale... Candy Club is a leading specialty market confectionary company which operates a wholesale business and a direct-to-consumer subscription business in the USA. Founded by serial entrepreneur Keith Cohn, the Company’s vision is to become the world’s leading specialty market confectionary company.More

Corporate Spotlight

Candy Club is a leading specialty market confectionary company which operates a wholesale business and a direct-to-consumer subscription business in the USA. Founded by serial entrepreneur Keith Cohn, the Company’s vision is to become the world’s leading specialty market confectionary company.
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Candy Club on The Market Herald Live Bulletin July

VIDEO

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CLB COMPLETES $2.45M PLACEMENT

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17th July 2020 - The Market Herald




  • Confectionary company Candy Club (CLB) has emerged from a trading halt after completing a $2.45 million private placement
  • The company entered the trading halt on July 15, and today stated it would use the money to support its fast-growing business-to-business (B2B) strategy in the U.S.
  • 19.6 million fully paid ordinary shares will now be issued to new institutional and sophisticated investors at 12.5 cents each
  • Due to the strong support the placement received, applications had to be scaled back to accomodate demand 
  • The shares are expected to be issued on or around July 27
  • Candy Club is up 3.75 per cent on the market this morning and shares are trading for 14.5 cents each

Confectionary company Candy Club (CLB) has emerged from a trading halt after completing a $2.45 million private placement. 

The company entered a trading halt on July 15, and today stated it would use the money to support its fast-growing business-to-business (B2B) strategy in the U.S. 


"The funds will be used to accelerate our successful B2B growth strategy and the strong institutional support is a welcome vote of confidence in our decision to pivot to the B2B segment in September 2019," Founder and CEO Keith Cohn said. 

19.6 million fully paid ordinary shares will now be issued to new institutional and sophisticated investors at 12.5 cents each. 

This price represents a 10.7 per cent discount to the close on July 14 of 14 cents per share, and a 9.4 per cent discount to the 15-day volume-weighted average price of 13.8 cents each. 


Due to the strong support the placement received, applications had to be scaled back to accomodate demand. As a result, directors did not participate to make room for new investors. 


"This success of this raise means it's now game on for growth, growth, growth in B2B," Chairman James Baillieu said. 

"More than a dozen high-quality institutional names are coming on to the register for their first taste of Candy Club and we are thrilled to have them on board," he added.


The shares are expected to be issued on or around July 27. 

Candy Club is up 3.75 per cent on the market this morning and shares are trading for 14.5 cents each at 11:06 am AEST. 


17th July 2020 - The Market Herald

OPERATIONS UPDATE

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BUSINESS OPERATIONS UPDATE 

ASX Announcement 19 February 2019 


Melbourne, Australia, – Candy Club Holdings Limited (ASX: CLB) (the “Company”) a leading premium confectionary business, is pleased to provide the following business operations update:


Highlights: 

  • The Company’s wholesale (B2B) business achieved $500,000 in revenue in first two quarters of operations 
  • B2B is anticipated to be a key growth driver for the Company with more than 300 individual retail accounts, in under six months 
  • Strong Q4 ‘18 retail sales in B2B and customer re-order rates bode well for Q1 and CY ’19 prospects 
  • Performance of the Company’s direct-to-consumer (D2C) subscription business has improved during Q1 ’19 as Customer Acquisition expense (CAC) is reduced 
  • Targeting profitability in Q4 CY ’19 
  • Successful Q1 ’19 Trade show activity in Atlanta, Dallas, NYC and Las Vegas in the USA has resulted in new national accounts 
  • Appointment of new CFO and VP of Marketing


B2B Performance Update: 

Performance of the Company’s B2B operations, which launched in July ’18, has significantly exceeded internal sales expectations achieving ~A$500,000 in revenue across more than 300 individual retail accounts in under six months of operations. 


Most pleasingly, B2B experienced strong retail sales and re-order rates in Q4 ’18 and as a result demand has been above internal expectations. The addition of a large number of new retail accounts has led to a material increase in the number of locations, which carry the Company’s product line. 


It is anticipated that strong re-order rates should translate to a material increase in the number of locationsto be rolled across B2B customers. The combination of accounts being won on a consistent basis, strong retail sales and re-order rates, point to a significant quarter over quarter growth in Q1 ’19 for this business segment.


D2C Performance Update: 

The D2C subscription business continues its positive momentum as new marketing leadership combined with a revamped and diversified customer acquisition strategy have contributed to a ~40% decrease in CAC since early December ‘18. Acquiring subscribers at these levels is anticipated to be highly profitable for the Company.


Profitability in CY ’19: 

As the Company endeavors to achieve profitability in Q4 CY ’19, it will continue to run the D2C business efficiently while investing in the B2B business. Several cost-optimization initiatives and margin improvement programs are expected to facilitate this.


Click here to view the full announcement

PRESENTATION

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