Gloucestershire firm Versarien raises £400k with new shares
Versarien plc, an advanced materials engineering group based in Longhope, Gloucestershire, has successfully raised another £400,000.
The firm placed 500,000,000 new ordinary shares at a price of 0.08 pence per share.
Net proceeds will help Versarien capitalise on a growing number of opportunities in its pipeline while continuing to progress its asset sales.
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It’s recently taken on a sales agreement with Go To Gym to bring its Graphene-Wear products to Colombia, Brazil and the USA, as well as a deal to co-develop advanced materials with Thai petroleum company IRPC.
The news follows a company update last December on Hanwha Aerospace, acquired by Versarien in 2020 and currently marketed for sale.
Stephen Hodge, CEO of Versarien, said: “In the short time since our company update, the commercial, licencing and grant opportunities have continued to grow.
“This further funding will help us to progress the conversion of these leads while the asset sale discussions continue.
“We look forward to updating the market in due course.”
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