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NANOVEU LIMITED — Capital/Financing Update 2021
Aug 30, 2021
65457_rns_2021-08-30_3a2c54d4-8e03-4a99-b0cc-1887ff870bbe.pdf
Capital/Financing Update
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Nanoveu Limited U1, 18 Olive Street Subiaco WA 6008 +61 8 6244 9095 www.nanoveu.com
ASX RELEASE
31 August 2021 ASX: NVU
Placement and Entitlement Issue
Placement:
Nanoveu Limited ( Nanoveu or the Company ) is pleased to announce the Company has received firm commitments from sophisticated and professional investors to raise $1,350,000 (before costs) through the issue of 30,000,000 fully paid ordinary shares ( Shares ) in the Company ( Placement ) at an issue price of $0.045 per Share ( Placement Shares ), together with 1 free attaching option exercisable at $0.058 on or before the second anniversary of the issue of the Placement Shares for every 2 Shares issued, subject to shareholder approval which the Company aims to seek in October 2021 ( Placement Options ). The Placement was well supported by new and existing investors.
13,864,000 Shares will be issued under the Company’s placement capacity under Listing Rule 7.1 and 16,136,000 Shares will be issued using the Company’s placement capacity under Listing Rule 7.1A. The issue price meets the requirements of Listing Rule 7.1A.3, being more than 75% of the 15-day volume weighted average price of Nanoveu shares traded on ASX.
The Company expects to issue the Placement Shares on Monday 6 September 2021 and the Placement Options will be issued after the Company convenes a shareholder meeting.
Commenting on the Placement, Nanoveu Executive Chairman and CEO Alfred Chong said:
“ We are 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.”
Viriathus Capital Pty Ltd acted as Lead Manager to the Placement and will be paid a capital raising fee of 6% of the gross proceeds raised under the Placement. In addition, the Company has agreed to issue 1,000,000 unlisted options exercisable at $0.058 on or before the second anniversary of the issue of the Placement Shares (ie, on the same terms as the Placement Options). The options will be issued to the Lead Manager (or its nominees) under the Company’s placement capacity under Listing Rule 7.1.
Placement funds raised will be used as follows:
| - | Sales and marketing | $500,000 |
|---|---|---|
| - | Regulatory approvals | $250,000 |
| - | Inventory build | $250,000 |
| - | General working capital purposes | $350,000 |
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Entitlement Issue:
To enable eligible shareholders the opportunity to participate in the funding round on the same terms, Nanoveu will be offering a 1 for 4 non-renouncable entitlement issue on the same terms as the Placement.
The indicative timetable for the entitlement issue is set out below:
| Event | Date |
|---|---|
| Announcement of EntitlementOffer&Appendix3B | Tuesday, 31 August 2021 |
| Lodgement of Prospectus with ASIC & ASX | Wednesday, 8 September 2021 |
| Ex date | Monday, 13 September 2021 |
| Record Date for determining Entitlements | Tuesday, 14 September 2021 |
| Prospectus despatched to Shareholders & Company announces despatch has been completed |
Friday, 17 September 2021 |
| Last day to extend Closing Date | Thursday, 23 September 2021 |
| Closing Date* | Tuesday, 28 September 2021 |
| Securities quoted on a deferred settlement basis from market open |
Wednesday, 29 September 2021 |
| Announcement of results of issue | Friday, 1 October 2021 |
| Issue date and lodgement of Appendix 2A with ASX applying for quotation of the securities (before noon Sydney time) |
Tuesday, 5 October 2021 |
*The Company may extend the Closing Date by giving at least 3 Business Days’ notice to ASX prior to the Closing Date. As such the date the Shares are expected to commence trading on ASX may vary.
- Ends -
This announcement has been authorised for release by Nanoveu’s Executive Chairman and CEO
For further information, please contact:
For media / investor enquiries, please contact:
Alfred Chong Executive Chairman and CEO
t: +65 6557 0155
Jane Morgan Investor Relations
t: 0405 555 618
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About Nanoveau Limited
We are technology innovators who specialize in modern, cutting-edge nanotechnology that improve the way we live, from reducing contagious transmissions on high touch points to immersive vision-based entertainment. https://www.nanoveu.com/
Nanoshield - is a film which uses a patented polymer of Cuprous embedded film to self-disinfect surfaces. Nanoshield antiviral protection which is available in a variety of shapes and forms, from mobile screen covers, to mobile phone cases and as a PVC commercial film, capable of being applied to a number of surfaces such as doorhandles and push panels. The perfectly clear plastic film contains a layer of charged copper nanoparticles which have antiviral and antimicrobial properties. This technology is also being applied to fabric applications targeting use in the personal protective equipment sector.
EyeFly3D - is a film applied to digital displays that allowed users to experience 3D without the need for glasses on everyday mobile handheld devices.
Customskins - are vending machines capable of precisely applying screen covers to mobile phones with an alignment accuracy of 150 microns.
EyeFyx - currently in research and development stage, EyeFyx is a vision correction solution using hardware and software to manipulate screen output addressing long-sightedness without the need to wear reading glasses.
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