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Marine Produce seeks $4.5m to fund commercialisation

by 5m Editor
16 October 2006, at 1:00am

AUSTRALIA - West Perth-based aquaculture producer Marine Produce Australia has announced plans to raise $4.5 million through a share offer to existing stockholders at half the price of a $3 million capital raising undertaken earlier this year. The new share issue, of 227 million shares at 2 cents each, is to be made to shareholders on a one for one basis. Funds raised will be used to continue commercialisation of Marine Produce&#39;s salt water barramundi operations and for the construction of new pools for the company&#39;s prawn farm. The deal is managed, and underwritten by, Argonaut Capital Ltd, with KPMG acting as auditors to the offer. <i>Source: waBusiness News</i>

5m Editor