SYDNEY: Dotz Nano Limited announced that its largest shareholder, Southern Israel Bridging Fund (SIBF), is committing a further $1.75 million of growth funding via the exercise of its options in the Company.
SIBF has committed this additional growth funding via two tranches:
Tranche 1: Immediate exercise of 9.55 million options to raise $859,500. This will increase SIBF’s shareholding in Dotz to 19.82% (based on current shares on issue).
Tranche 2: Six months after the issue of Tranche 1 shares, the exercise of its remaining 9.89 million options for $890,500 (subject to receipt of Foreign Investment Review Board approval if required).
Commenting on SIBF’s increased commitment to the Company, Dotz Non-executive Director and SIBF Partner Doron Eldar said: “When we first invested in Dotz we saw huge global potential for its technology, and our investment thesis has been vindicated. The four commercial agreements already put in place this year and the strong pipeline point to an exciting growth runway ahead. SIBF is delighted to further increase its investment Dotz via the commitment to exercise all of its options, and to provide Dotz with further growth funding to execute on the exciting opportunities we see for this business globally.”
Dotz Chairman, Bernie Brookes AM, said: “SIBF has been a very supportive shareholder of Dotz, and we are delighted that it has committed to increase its investment in the Company and provide additional funding to support the rapid growth we are now experiencing. Dotz has had a strong start to 2020, with the contracts signed and our growing sales pipeline providing strong momentum for future sales growth. We are in advanced negotiations with several potential customers across multiple applications for Dotz’s technology, and are confident of converting these negotiations and current pilots into contracts and recurring sales before the end of this year.”
Dotz Nano Limited (ASX: DTZ) is a technology leader in research, production and marketing of anti-counterfeiting, authentication and tracing solutions. Dotz has strong, established distributors in North America, Europe, Japan, China and Australia as well as scientific collaborations and partnerships with leading academic institutes.
Its unique products ValiDotz, BioDotz, Fluorensic and InSpec are exceptional solutions for numerous applications, such as anti-counterfeiting, brand & reputation protection, oil & gas industry, liquids tagging, lubricants, polymers tagging and bio imaging. Recently the company has harnessed its technology to mark personal protective gear including face masks.