- Nanoveu (NVU) secures $1.35 million from sophisticated and professional investors
- To raise the funds, the company issued 30 million shares are 4.5 cents each
- Nanoveu Executive Chairman and CEO Alfred Chong said he was “very pleased with the strong demand from new investors and continuing support from existing shareholders”
- Funds will help the company expand for its products globally and strengthen ties to its international network of customers and distributors
- Company shares are 4.35 per cent down and trading at 4.4 cents each at 12:15pm AEST
Nanoveu (NVU) has secured $1.35 million from sophisticated and professional investors.
To raise the funds, the company issued 30 million shares are 4.5 cents each.
Commenting on the raise, Nanoveu Executive Chairman and CEO Alfred Chong said he was “very pleased with the strong demand from new investors and continuing support from existing shareholders”.
“We believe this positively reflects on Nanoveu’s success creating modern, cutting-edge nanotechnology that improves the way we live. The Nanoveu Board is excited to continue to develop premium products and expand the company’s global growth,” he added.
The nano-technology company is targeting global expansion for its products and strengthening ties to its international network of customers and distributors.
Nanoveu recently received a $125,000 order from its distributor for Thailand and Malaysia. Singapore Sanyo Trading ordered non-woven polypropylene fabric that incorporates Nanoveu’s antiviral technology, Nanoshield.
This specialty technology has been shown to be a highly effective agent for the inactivation of viruses and bacteria, and has proven to eliminate 99.99 per cent of SARS-CoV-2, the virus that causes COVID-19.
The polypropylene material reportedly opens up opportunities for Nanoveu to pursue its antiviral products in the personal protective equipment industry. It also may extend additional applications such as disposable bedding and medical gowns in the medical sector.
Shares are expected to hit the market on Monday, September 6.
Company shares were 4.35 per cent down and trading at 4.4 cents each at 12:15pm AEST.