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BLUGLASS LIMITED — Capital/Financing Update 2015
Aug 2, 2015
64532_rns_2015-08-02_6fa3488b-f0a2-4fca-8e62-08007dc5865e.pdf
Capital/Financing Update
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The Manager
ASX Announcements Platform
3 August 2015
SHARE PLACEMENT
BluGlass Limited (ASX: BLG ) is pleased to announced that it has agreed to place 7,485,000 new fully paid ordinary shares to sophisticated investors at an issue price of 6.25 cents per share, amounting to total issue proceeds of $467,812 (Placement).
The placement follows an unsolicited approach to BluGlass by a small number of brokers representing sophisticated investors seeking to invest in the Company.
The net proceeds of the placement will be used for the same purposes as set out in our recent Share Purchase Plan (SPP) completed last month. These purposes include providing funds to further progress the development and commercialisation of BluGlass’ technology as well as BluGlass’ share of the cost of any joint evaluation of BluGlass’ technology by Veeco.
The Placement will be conducted pursuant to the Company’s 15% placement capacity.
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About BluGlass:
BluGlass Limited (winner of the 2013 Australian Technologies Competition) is an Australian green technology company formed to commercialise a breakthrough in the Semiconductor Industry.
BluGlass has invented a new process using Remote Plasma Chemical Vapour Deposition (RPCVD) to grow semiconductor materials such as gallium nitride (GaN) and indium gallium nitride (InGaN), crucial to the production of high efficiency devices such as next generation lighting technology Light Emitting Diodes (LEDs) with advanced performance and low cost potential. The RPCVD technology, because of its low temperature and highly flexible nature, offers many potential benefits over existing technologies including higher efficiency, lower cost, substrate flexibility including GaN on silicon and greater scalability. Media Contact: Stefanie Winwood +61 2 9334 2300 [email protected]
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