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

 

Statistics: Food Prices Increase 7.4 Percent Annually
Food prices were 7.4 percent higher in July 2022 compared with July 2021, Stats NZ said today... More>>



REINZ: Market Activity And Prices Continue To Ease, First Home Buyers Start To Return To The Market

New Zealand’s winter property market continues its recent trend, slowing from the pace of sales and price rises of last year — properties stay on the market longer and median prices dip... More>>

FMA: Cigna Admits Making False And Misleading Representations
Cigna Life Insurance New Zealand Limited has admitted to making false and/or misleading representations to customers in proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko... More>>



Retail NZ: Welcomes Return Of Cruise Ships

“Cruise visitors were big spenders in retail prior to COVID-19, and retailers in Auckland will be celebrating the arrival of P&O’s Pacific Explorer this morning... More>>



ASB: Full Year Results: Building Resilience Today And For Our Future

In its 175th year, ASB has reported a cash net profit after tax of $1,418 million for the 12 months to 30 June 2022, an increase of $122 million or 9% on the prior year... More>>


Commerce Commission: Draft Determination On News Publishers’ Association’s Collective Bargaining Application
The Commerce Commission (Commission) has reached a preliminary view that it should allow the News Publishers’ Association of New Zealand (NPA) to collectively negotiate with Meta and Google... More>>