Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Certified Organics To Fund North American JV

Certified Organics Share Placement To Fund North American JV

Statement made by David Warrick, Managing Director, Certified Organics Limited

Certified Organics is placing an issue of 5.2 million shares at market rates with New Zealand investors, raising $350,000 before costs, which it will use to progress development of a North American joint venture.

The placement has been arranged through a New Zealand broker, and is made under the New Zealand Exchange’s “10% rule”.

We are pleased with the level of interest shown in the placement, and see it is an indication that the market is keeping a watching brief on us as we make headway in transforming our unique patents into commercial products sold internationally.

Over the past year we have been working with North American interests on developing a joint venture to distribute and market our products in North America.

Those discussions have reached the point where we are entering into detailed negotiation with a distribution company. The funds raised will help take this initiative to its final conclusion.

We anticipate being able to make a specific announcement in relation to this development by the end of the first quarter next year.

We have also selected a North American marketing partner that would provide the marketing funds and promote the proposed joint venture’s products.

In another development we have signed a distribution agreement with Intrachem Bio ( International ) SA of Geneva, Switzerland, for it to be our exclusive distributor in Switzerland, Italy, Spain and Portugal.

Intrachem, which is the world’s largest dedicated distributor of environmentally safe biochemical products, intends to market our products in Europe in 2004.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news