A compnay associated with Otago businessmen Eion Edgar and Tony Offen have taken a cornerstone stake in biotechnology company Blis Technologies.
The Dunedin biotechnology company announced yesterday that under the terms of the agreement announced earlier this year, seven million partly paid ordinary shares were now fully paid at a cost of $500,000.
The shares were allocated to Edinburgh Equity Nominee Ltd, a joint venture between Edinburgh Securities Ltd and Sinclair Long Term Holdings Ltd, which are associated with Mr Edgar and Mr Offen.
They now own 4.88% of the shares.
Blis chairman Barry Richardson said an announcement about capital raising expected this month, would now be outlined in the New Year.
He said agreement had been reached with Mr Edgar and Mr Offen to underwrite a rights issue, with details to be announced early in the new year.
