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BLIS announces a Significant Investor


Immediate release 31 July 2008

BLIS announces a Significant Investor

At its Annual General Meeting of Shareholders today, the Dunedin based biotechnology company, BLIS Technologies Ltd (NZX: BLT) announced that it had successfully entered into a Share Subscription Agreement, with the commercial investment company, Edinburgh Securities Limited. The shares to be allotted under the agreement will represent 4.88% of the shares on issue in BLIS Technologies following the placement. This placement of 7,017,544 ordinary shares of BLIS Technologies Ltd at issue price of $0.07125 has a capital value of $500,000 to the company.

Edinburgh Securities, a Dunedin based company, is not a current shareholder of BLIS and conducted extensive due diligence on the BLIS Technologies and its operations before committing to invest under the agreement.

Mr Tony Offen, Managing Director of Edinburgh Securities has advised BLIS Technologies that he anticipates the ordinary shares, which are to be allotted under the placement, will ultimately be held by a joint venture company formed between Edinburgh Securities and Sinclair Long Term Holdings Limited, a company that is associated with Mr Eion Edgar. Mr Edgar, a well known business leader and investor, is formerly of Dunedin and also former Chancellor of the University of Otago.

The Agreement between Edinburgh Securities and BLIS Technologies provides Edinburgh with the shares which will be allotted on a partly paid basis with $100,000 payable on allotment and $400,000 payable by no later than 31 March 2009. Edinburgh is also granted the right (but without obligation) to increase its holding in BLIS Technologies to 19.99% of the shares on issue, on or before 31 March 2009. This is subject to the necessary shareholder or regulatory approvals.

BLIS Technologies Ltd CEO, Dr Barry Richardson, has also indicated the significance of the commercial relationship with Edinburgh Securities as this agreement also includes a right of first refusal on “underwriting rights” for future commercial development projects that BLIS Technologies might embark on.

``We are delighted to be associated with Tony Offen and Eion Edgar’’ Dr Richardson said ``They both have a great track record of commercial investment. We expect to use the $500,000 of additional capital to further expand our product range and further pursue the commercialisation of BLIS’s product platform in New Zealand and in selected international markets.’’

About BLIS Technologies Ltd
BLIS Technologies Limited became listed on the New Zealand Stock Exchange in July 2001 and was formed to commercialise BLIS (bacteriocin-like inhibitory substances), hence the company’s name, BLIS Technologies Ltd. The company has acquired the rights to the collection of an extensive range of BLIS producing organisms and is developing new products for use in the control of undesirable bacterial infections which includes dental caries control, the prevention and treatment of ear and throat infections, bovine mastitis, and skin infections.


ENDS

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