- The growing of significantly larger crops of Artemisia annua;
- Increased extraction costs to produce more extract;
- Maintaining higher levels of stock, both of raw materials and finished stock; and
- Increased debtors in New Zealand and Australia as both sales and the number of retail outlets increase.
Promisia launches Rights Issue to raise $1.3m to fund growth
Promisia Integrative Limited (Promisia), the NZX-listed therapeutic health supplements company, today announced that it will provide eligible shareholders with the opportunity to participate in a renounceable rights issue.
The primary use of the capital to be raised in this issue of shares is to finance a significant increase in working capital at all levels of the supply chain to service the continued sales growth of Arthrem® in New Zealand, the launch of Arthrem® in Australia and the launch of the canine product. The working capital requirement includes: