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New Zealand Coastal Seafoods Limited ( (AU:NZS) ) just unveiled an announcement.
New Zealand Coastal Seafoods Limited has secured a $100,000 investment through Convertible Note subscriptions from cornerstone investor Ilwella Pty Ltd. This capital infusion is intended to bolster the company’s financial position and accelerate its strategic initiatives, reflecting investor confidence in NZS’s growth strategy and commitment to sustainable fishing practices. The Convertible Notes, which are unsecured and carry a 12% interest rate if not converted, can be converted into ordinary shares at a price of $0.02 per share, pending shareholder approval.
More about New Zealand Coastal Seafoods Limited
New Zealand Coastal Seafoods Limited (ASX: NZS) is a processor, distributor, and exporter of premium seafood products, as well as a secondary producer of nutraceutical and marine ingredients. Operating out of Queensland, Australia, the company focuses on responsible sourcing from the Torres Strait and Coral Sea, utilizing sustainable management practices to ensure minimal environmental impact. Their products are wild-caught, traceable, and distributed to both Australian and international markets.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$3.33M
Find detailed analytics on NZS stock on TipRanks’ Stock Analysis page.