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HOLISTA COLLTECH LIMITED — Capital/Financing Update 2013
Oct 13, 2013
65044_rns_2013-10-13_f1b1f7a4-3a9a-4710-8352-eeb9962b4aa1.pdf
Capital/Financing Update
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Holista CollTech Limited
(ASX:HCT / ABN 24 094 515 992) Level 18, Central Park 152-158, St Georges Terrace, Perth WA 6000 Ph: +618-9278-2736 Fax: +618-9288-1842 www.holistaco.com
14 October 2013
HOLISTA COLLTECH ANNOUNCES UNITED STATES JOINT VENTURE TO
COMMERCIALISE PATENTED FOOD INGREDIENTS
Holista Colltech is pleased to announce the incorporation of its new subsidiary, Lite Food Inc. in the United States. This company will focus on commercialisation of Holista’s core food ingredient products:-
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Low fat fries
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Low glycemic index (GI) bread
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Low sodium salt
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Low calorie sugar
The initial paid up for Lite Food Inc. will be US$1,000 with the following shareholdings:-
| Shareholders | Percentage |
|---|---|
| Holista Colltech | 74% |
| Chan Heng Fai* | 10% |
| Jeffrey Busch | 10% |
| Roscoe Moore | 3% |
| Danica Holley | 3% |
*Mr Chan Heng Fai is also the existing director of Holista. His profile can be found on our Annual Report 2013 and our website www.holistaco.com
Mr Chan Heng Fai, Mr Jeffrey Busch along with our CEO, Dr Rajen M will be the initial Board Members of Lite Food Inc.
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Jeffery Busch who is residing in United States will be appointed as the President of Lite Food Inc. He is a graduate of New York University School of Business with a BSc in Management, a Masters of Public Admin from New York University and a Doctor of Jurist Prudence from Emory University. After Law School he became a member of the New York Bar Association.
Mr. Busch was appointed by two United States Presidents to serve. His first was to become Assistant to the United States Secretary of Housing and Urban Development (“HUD”). At HUD he oversaw a yearly budget of US$3.2 billion used to develop housing and commercial real estate. His second appointment was to represent the United States at the United Nations in Geneva.
Mr. Busch has headed various Business enterprises since 1985. He has developed numerous Real Estate properties and owned and managed Real Estate in several states. He has been an integral part of Real Estate Development teams on hundreds of millions in development including Rental housing, hotels and commercial real estate. He built a chain of FM Radio stations, owned a franchise in Fast Food and mini-amusement park. He is also President of Safe Blood International Foundation where he oversaw establishment of medical facilities in 35 countries.
The presence of Lite Food Inc. in United States will provide opportunities for Holista Colltech to be represented in America where most of the large fast food chains are located.
Jay Stephenson COMPANY SECRETARY
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