IRW-Press: Alexium International Group: Funds To Be Used To Develop High Value Specialty Chemicals
| Published on 10 September 2012 |
by Press Office
(IRW-PRESS and WireNews+Co)
Vienna, Austria
|
Alexium International Group Limited (Alexium) (ASX:AJX, AX:AJX, OTC QX:AXXIY) is pleased to announce that it has placed a total of 11 million Convertible Notes with a face value of 10 cents per Note to raise AUD $1.1 m (before costs) to Sophisticated and Professional Investors. Baker Young Stockbrokers Limited acted as Lead Manager to the Placement.
The placement has been undertaken to allow Alexium to expand its business in the specialty chemicals markets following on from the recent breakthroughs in:
1. Flame Retardant (FR) Nylon:
Where Alexium’s FR chemical treatment, which does not use harmful brominated or halogenated chemicals, can be applied to Nylon, which could not be treated by conventional FR methods. Alexium has commenced commercial licensing of its novel FR treatment with an exclusive North American license to Duro Textiles.
2. Polyolefins:
Where Alexium demonstrated the ability to add functional properties to high value temperature sensitive fibers as a potential platform for incorporating antimicrobials, adhesion promoters and flame retardants. The annual polyolefin textile market in Europe alone is estimated to be at least $2.5 billion. High-performance polyolefin fibers have garnered great industry interest due to their high resistance to chemicals, low moisture absorption, excellent abrasion resistance and high impact strength.
3. Chem/Bio:
Where Alexium has recently been granted an additional US Department of Defense research contract, through the US Air Force Research Laboratories to test “live” chemical warfare nerve agents on fabrics treated with Alexium’s Reactive Surface Treatment (RST) technology.
Alexium will use the funds from this placement to progress its development work in the specialty chemical solutions area, focusing on FR treatments and FR additives. Incorporated either as topical finish or additive in the polymer, these flame retardant treatments can add significant value, enable new product applications and address a growing need for environmentally acceptable, more effective FR solutions.
Alexium is the first company to have developed an environmentally safe, halogen free, FR treatment that is suitable for nylon apparel fabrics and is extending this work into other synthetics and fabric blends. In addition to topical chemical solutions, Alexium is developing FR additive solutions that can be incorporated directly into polymers, for use in the plastics and composites industry. Composites are used extensively in the aerospace, medical, automotive and construction industries for high strength, low weight and other favorable properties.
The Notes have the following key terms:
- A 'Maturity Date' of the 30 August 2014.
- Coupon rate of 13% per annum with interest paid quarterly in arrears.
- Unlisted and unsecured, convertible to fully paid ordinary shares.
- Conversion Price is the lesser of;
o $0.10 per Share OR;
o 87.5% of the previous 30 day volume weighted average price of the Company's ordinary shares OR;
o in the event of a future issue of ordinary shares during the term, the price of issue of such fully paid ordinary shares.
- The Note holder may elect to convert the Convertible Notes at any time after 90 days from the Allotment Date until the Maturity Date, upon providing the Company with a Conversion Notice.
For more information visit Investor Relations at: www.alexiuminternational.com
Contacts
United States
Stefan Susta
COO & Executive Director
ssusta@alexiuminternational.com
T: +1 864-908-6946
Australia
Gavin Rezos
Executive Chairman
grezos@alexiuminternational.com.au
T. +618 6162 1358
M. +61 412 898 235
Nicholas Clark
CFO & Company Secretary
nclark@alexiuminternational.com
T. +618 6162 1358
M. +61 432 412 663
About Alexium
Alexium International Group Limited (ASX:AJX, AX:AJX OTC QX:AXXIY) holds proprietary patent applications for a process developed initially by the US Department of Defense , 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. Further information is available at www.alexiuminternational.com.
About OTCQX
Alexium International Group Limited (OTCQX: AXXIY) trades on the OTCQX, the top tier of the OTC market designed for the best OTC companies that meet the highest financial standards and undergo a qualitative review. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com
About Baker Young
Baker Young Stockbrokers Limited is a South Australian based, independently owned, full service private client Stockbroking business. Baker Young specialise in providing investment services to a range of private clients, Institutions and ASX listed and unlisted companies. For more information please go to www.bakeryoung.com.au.
Contacts
- Joachim Brunner
- IRW-Press
- PR Contact
- Tel: +43724221193011
Posted 2012-09-10 15:22:00
