BLIS Technologies Ltd – Rights Issue

BLIS Technologies Ltd – Rights Issue

21 September, 2007

The Directors of BLIS Technologies Ltd (NZX:BLT) wish to confirm further details of its proposed renounceable rights issue announced at the Company’s Annual General Meeting in August.

BLIS intends to raise up to $3 million before the end of this calendar year to:

• further expand the company’s activities in selected international markets
•
• strengthen BLIS’s current intellectual property position and file additional patent applications
•
• further improve its safety and efficacy data to assist with applications for regulatory approval in specific international markets;
•
• expand facilities within Dunedin to undertake increased commercial activity, including the option of small scale production activities;
•
• to establish a small pilot-scale facility to assist scale-up and further develop the company’s know-how and product development capability.
•

The Rights Issue will require the approval of shareholders. It is proposed that a notice of meeting containing full details of the issue will be sent to shareholders in mid October for a meeting in early November. Subject to shareholder approval the investment statement for the issue will be sent out immediately following the shareholder meeting. Rights trading is anticipated to commence shortly afterwards and run through to early December when the issue will close.

ends

© Scoop Media