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Versarien acquires assets from Hanwha Aerospace; raises capital
StockMarketWire.com
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Advanced materials group Versarien said it had agreed to acquire graphene production assets and intellectual property from South Korea-based Hanwha Aerospace for £4.3 million in shares.
The deal involved the issue of 11 million Versarien shares at 39.475p each.
Versarien said it also had raised £3.5 million by issuing shares at 40p each to Lanstead Capital Investors.
'We are delighted to have agreed the Acquisition which complements our existing portfolio of graphene materials technology,' chief executive Neill Ricketts said.
'In particular, it will provide us with access to patented technology and equipment to produce high quality single and dual layer graphene that has particular applications in the electronics sector, together with other areas, including in relation to some of our existing collaborations.'
'The acquisition will also help facilitate our planned future Asian development.'
'We are pleased that we have received additional support from Lanstead to provide the funding and additional working capital required for our international expansion strategy.'
At 9:06am: (LON:VRS) Versarien PLC share price was 0p at 31.18p
Story provided by StockMarketWire.com
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