SECOS: Launches $1.1M placement to meet new purchase orders
- Sustainable bioplastics developer SECOS has received commitments from sophisticated investors for a $1.1M placement
- Approximately 22M shares also will be issued to investors and shareholders at a price of $0.05 per share
- This money also will add to SECOS already existing cash on hand of $1.5M
- Money raised also will serve as a buffer for any unforeseen circumstances and provide working capital for new purchase orders
- SECOS has ended the day up a healthy 20 per cent with shares trading for six cents each
- This material can used for shopping and waste bags, clingfilm, and utensil packaging
