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EDEN INNOVATIONS LTD — Capital/Financing Update 2017
Jan 19, 2017
64820_rns_2017-01-19_21550365-1a75-4488-ac26-92f42606e4ba.pdf
Capital/Financing Update
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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT
20 January 2017
COMPLETION OF PURCHASE OF
NEW COLORADO PROPERTY
DETAILS
Eden Innovations Limited (“Eden”) (ASX: EDE) is pleased to announce that it has completed the purchase of an adjoining property to its existing Colorado plant which was purchased for US$1.525 million as announced (ASX:EDE 16 December 2016).
The property comprises a parcel of land with an area of 24,829 square feet (2,306 m[2] ) on which is erected a two storey building with a total area of 12,599 square feet (1,170 m[2] ) that was built in 1999 (see Figure 1).
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Figure 1 – Adjoining building purchase completed
As previously announced, the building in addition to a number of offices, has a large workshop/ warehouse area and loading dock suitable for semi-trailers. This
Eden Innovations Ltd | Telephone +61 8 9282 5889 Level 15, 197 St George’s Terrace, Perth, Western Australia 6000, Australia | edeninnovations.com
facility will enable the administration, the OptiBlend[TM ] business and the research and development all to be re-located from Eden’s existing site to the new building, thereby freeing up sufficient additional space into which the EdenCrete[TM] production, which is currently be scaled up, can be further expanded as needed.
This additional space adds significantly to the company’s potential EdenCrete[TM] production capability in Colorado, which could be required to meet expanding demand over the next 18-24 months, until Eden’s proposed large scale EdenCrete[TM] plant can be built in Augusta Georgia.
As announced, the new property is very conveniently located and shares a common rear boundary with Eden’s existing Colorado plant, and will thereby give the expanded Eden site access to 2 street frontages that could assist in despatching the increased volumes of production should that be required.
BACKGROUND
EdenCrete[TM] is Eden’s 100% owned, proprietary carbon-strengthened concrete additive, one of the primary target markets for which is improving the performance of concrete used in the construction and maintenance of concrete roads, bridges, airport runways and other infrastructure. Additionally, it has potential for use in a wide range of other concrete applications including high-rise building construction, marine and coastal applications, dams, water storage and pipelines, and prefabricated concrete structures and products.
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Gregory H. Solomon Executive Chairman ACN 109 200 900
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