Dear Pebbles
I apologise that I have been quiet for a while, nevertheless we have been 'paddling hard underneath' preparing the Information Memorandum for release today (see attached) and the detailed Commercialisation Plan.
I am pleased to be able to tell you that we have completed the acquisition of assets of GSL subject to administrative finalisation of IP transfers and have acquired all the required assets of the UK subsidiary that has also been liquidated. Consequently, the operations in Europe will be concentrated in Italy where we plan to set up the Micropower Devices Pilot Plant over the next several months with a view to providing prototypes from this 'industrial' level plant within 9 months and to establish strategic agreements to provide micropower devices to companies in the worldwide IoT market place. Materials science R&D will be focussed in Australia with particular emphasis on our collaboration with QUT. I should point out that we will also be collaborating with groups in China, Singapore, Greece, England and Rome, and will be pursuing our EU Horizon projects so we are not isolated from some of the best R&D in the field. Our materials and equipment sales activities will continue to be centred in Rome as will the development and production of our Hyperion Solar Simulator.
Having invested close to A$1M in cash and contributions to date, we are now ready for a Private Raising of A$1M from Professional and Sophisticated Investors. We have appointed Primary Markets to assist through their Equity Trading Platform. Interested parties may either engage directly with Greatcell Energy Pty Limited or Primary Markets. In parallel we expect to close a second private placement of close to A$1M with a UK based strategic investor. In the second quarter of 2020 once we have some 'runs on the board', we plan a mezzanine raising of about $3M, to accelerate the industrial and commercial activities, and later in 2021 our ambition is to relist on an appropriate exchange.
Please read the Information Memorandum in full. I would be pleased to receive your comments and questions and possibly welcome you as an investor in the new 'Greatcell'.
Best regards
Gavin Tulloch (Director)
Auf geht's --- man kann wieder Geld investieren! Diemal klappt es
