- Eve Investments is raising $9.3 million to fund distribution of its organic honey products
- The company will receive the funding from an Australian investment group and a Hong-Kong based trading business
- Markets in the U.S., China and Japan will be targeted first
- Eve Investments’ share price is up 50 per cent today, currently sitting at 0.6 cents per share
Eve Investments is raising $9.3 million to help fund international distribution of its Meluka Honey products.
The investment group has received financial commitments from fellow investment company Everhoney Biotech Australia and health product traders Hong Kong Jusheng Bolang Technology Co.
Executive Director of Eve Investments Bill Fry said the raise signifies a shift in company’s operations.
“This is a company transformational transaction and EVE is very excited to work with both companies to achieve its strategic vision,” Bill continued.
Over two periods Everhoney will buy $5.27 million worth Eve shares, giving it a 17 per cent holding in the company. Jusheng Bolang will purchase $4.03 million worth of shares in the company, resulting in a 13 per cent holding.
In the first stage shares will be issued at 0.5 cents per share, and in the second raise shares will be bought at one cent each.
The company will be expanding distribution of its Meluka Honey products to the U.S., China and Japan. Eve has full interest in the Meluka brand which produces organic, raw and medicinal honey.
Additionally, funding will be used to continue releasing products in Australia. Upcoming is the launch of a fermented honey drink range.
Continued product development will also be financed by the funds raised.
Shareholders are responding favourably to Eve’s financial commitments from Everhoney and Jusheng Bolang. Share in Eve are up 50 per cent today, sitting at 0.6 cents apiece, as of 11:41 am AEST.