DGAP-News: Alexium International Group Limited: $8 MILLION 3 YEAR FUNDING COMMITMENT FROM ROSWELL CAPITAL PARTNERS
(firmenpresse) - DGAP-News: Alexium International Group Limited / Key word(s):
Corporate Action/Private Equity
Alexium International Group Limited: $8 MILLION 3 YEAR FUNDING
COMMITMENT FROM ROSWELL CAPITAL PARTNERS
24.03.2011 / 09:30
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Perth, Western Australia, Greer, South Carolina, ('Alexium' or the
'Company') (ASX:AJX) today announced the signing of a term sheet for an
US$8,000,000, 3 Year Equity Line funding facility with Centurion Private
Equity, LLC ('Centurion'), an institutional investor managed by Roswell
Capital Partners, LLC ('Roswell') based in, Georgia, USA.
The term sheet is subject to (i) the parties entering into formal
agreements setting forth their respective rights and obligations, (ii) the
completion of due diligence on the Company's business to the Investor's
satisfaction and (iii) the receipt of all necessary regulatory approvals
for the facility.
Alexium has entered into this facility to bolster its balance sheet
capability for any future expansion requirements of its Reactive Surface
Treatment (RST) technology to meet expected demand both from US Department
of Defense tenders and commercial sector license deals.
According to the term sheet, the Company may draw on the commitment by
providing draw down notices to Roswell during the next 3 years. Each
drawdown is subject to a maximum amount, as well as to a floor price, below
which the Company will not issue shares to Roswell. The common shares will
be issued at a price equal to 95% of the market price, but not below the
floor price.
Gavin Rezos, Alexium's Chairman, stated: 'We are pleased to be working with
a highly experienced team at Roswell with the added benefit of their nearby
location to our US operations. The funding facility also has the advantage
of being exercisable at our discretion, which allows for greater ease of
funding flexibility and funding availability to meet our developing
requirements as we grow our business over the next 3 years.'
Paul Gorski, Senior Investment Officer at Roswell added: 'We are very
excited to be working with Alexium and its award winning technology and
look forward to providing this fast growing company with capital and
support to help them achieve their commercial potential in the coming
years.'
The use of the Equity Line funding facility is subject to shareholder
approval to the extent at any time, that Alexium does not have sufficient
capacity under its 15% issuance capability under ASX Rules, to fulfill a
drawdown notice.
The Equity Line funding facility is also subject to final documentation and
due diligence, expected to be completed shortly.
About Roswell Capital Partners
Roswell Capital Partners, LLC (Roswell) is a fund management company
focused on private equity investments in small-cap publicly traded
securities. Since 1994, its members have served in the Private Equity
Markets as the Principal or Investment Banker for over 125 public
companies. In that time Roswell and its affiliates have provided financing
or equity commitments in excess of $1billion to public companies.
For more Information visit: www.alexiuminternational.com
Contacts
United States
Mr. Stefan Susta
Executive Director
T. +1 864-908-6946
ssusta(at)alexiuminternational.com
Australia
Mr. Gavin Rezos
Chairman
T. +61 86467 0101
M. +61 412 898 235
grezos(at)alexiuminternational.com.au
Mr. Nicholas Clark
CFO&Company Secretary
T. +61 8631 6300/
M. +61 433 569 701
nclark(at)alexiuminternational.com.au
About Alexium
Alexium International Group Limited (ASX:AJX, AX:AJX) holds proprietary
patent applications for a process developed initially by the US Department
of Defence , which allows for the surface modification and attachment of
nano particles or multiple chemical functional groups to surfaces or
substrates to provide functions such as water proofing, oil proofing, anti
microbial, non-stick and UV protection. Applications under development
include but are not limited to textiles, paints, packaging, glass and
building materials.
End of Corporate News
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116750 24.03.2011
Datum: 24.03.2011 - 09:30 Uhr
Sprache: Deutsch
News-ID 33566
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