TAKHMAO, Cambodia, June 16, 2026 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced it has closed a structured growth capital facility of up to US$ 25 million in senior unsecured convertible promissory notes.
The Company successfully executed its initial closing, securing US$1 million in immediate growth funding to support its international infrastructure expansion. Proceeds from the facility are strictly earmarked for equipment procurement and technological upgrades for Kandal’s manufacturing plant in the Philippines. This targeted deployment of capital serves as a direct capacity multiplier, enabling Kandal to rapidly scale factory throughput to meet a verified mid-double-digit year-over-year increase in customer order volume from its U.S. and international fashion brand client base.
By expanding this operational footprint, Kandal optimizes its supply chain resilience, taking advantage of the region’s skilled leather craftsmanship workforce, cost-competitive export framework and logistical proximity to global luxury distribution networks.
"This strategic facility allows Kandal to execute an offensive expansion strategy precisely when our global brand partners are increasing their order volumes," said Yui Kwong Fok, Chief Executive Officer of Kandal M. Venture Limited. "Our existing manufacturing lines are operating at peak capacity, and the continued growth in demand underscores the need for expansion. This capital provides the flexibility to accelerate development of our Philippines hub, shorten order-fulfillment cycles, and strengthen our near-term production pipeline."
This structured facility, provided by an institutional investor, represents a strong vote of confidence in Kandal’s long-term growth trajectory. The senior notes carry a 5% conversion premium, converting into Nasdaq-listed Class A Ordinary Shares at 105% of the principal. This development allows Kandal to continue implementing its growth strategy, aligning subsequent trenches with physical capacity targets.
The expansion supports Kandal’s broader strategy to build a multi‑country manufacturing platform capable of serving premium global brands with greater speed, reliability, and geographic diversification.
About Kandal M Venture Limited
Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Cambodia. It primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets.
For more information, please visit the Company’s website at www.kandalmv.com.
Forward-Looking Statements
Certain statements in this announcement are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events and market conditions, and may include statements regarding the Company’s financial condition, results of operations, business strategy, financial needs, expected financial performance, tariff mitigation strategies, and geographic expansion. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the Securities and Exchange Commission before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Additional information concerning these and other factors that may impact our expectations and projections can be found in the Company’s periodic filings with the SEC, including the Company’s Annual Report on Form 20-F for the fiscal year ended March 31, 2025. The Company’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Contacts:
Company:
Kandal M Venture Limited Investor Relations Contact:
Padachi Village, Prek Ho Commune, Takhmao Town, Kandal Province,
Kingdom of Cambodia
Email: [email protected]
Telephone: +855 23425205
Investor Relations Contact:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: +1 (646) 893-5835 x2
Email: [email protected]
Website: www.skylineccg.com