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


Commerce Commission: Warns Genesis Over Business Billing Errors

The Commerce Commission has issued a warning to Genesis Energy Limited about billing errors concerning electricity line charges to business customers. Genesis reported the errors to the Commission. The Commission considers that Genesis is likely to ... More>>

QV: Tax Changes Yet To Dampen Red-Hot Housing Market

Just over a month has passed since the Government announced measures aimed at dampening the rampant growth of the property market, and yet the latest QV House Price Index data shows the market hit a new high in April. The average value increased 8.9% nationally ... More>>

Stats NZ: Consents For New Homes At All-Time High

A record 41,028 new homes have been consented in the year ended March 2021, Stats NZ said today. The previous record for the annual number of new homes consented was 40,025 in the year ended February 1974. “Within 10 years the number of new homes ... More>>

The Conversation: Why Now Would Be A Good Time For The Reserve Bank Of New Zealand To Publish Stress Test Results For Individual Banks

Set against the backdrop of an economy healing from 2020’s annus horribilis , this week’s Financial Stability Report (FSR) from the Reserve Bank (RBNZ) was cautiously reassuring: the country’s financial system is sound, though vulnerabilities remain. More>>

Reserve Bank: Concerned About New Zealand's Rising House Prices

New Zealand house prices have risen significantly in the past 12 months. This has raised concerns at the Reserve Bank of New Zealand – Te Putea Matua about the risk this poses to financial stability. Central banks responded swiftly to the global ... More>>

Westpac: Announces Strong Financial Result

Westpac New Zealand (Westpac NZ) [i] says a strong half-year financial result has been driven by better than expected economic conditions. Chief Executive David McLean said while the global COVID-19 pandemic was far from over, the financial effect on ... More>>