Company Name: Ocean Guardian – Shark Shield
Announcement Date: 17/05/2018
Announcement Category: Investment
Ocean Guardian Holdings Limited (ASX:OCG) chief executive Lindsay Lyon talks to Proactive Investors as applications go live on its initial public offering (IPO).
Ocean Guardian is the manufacturer of electrical shark deterrent products using Shark Shield Technology. Lyon explains, “the Shark Shield Technology is the world's only scientifically-proven and independently-tested electrical shark deterrent... the efficacy of the product is so good that in Western Australia the government gives you a rebate when you buy our product.”
The company is seeking to raise $5 million by issuing 25 million shares at an offer price of 20 cents per share, with an oversubscription total of $6 million. The capital raised will be evenly divided between the marketing of existing products and launching of newly developed products, new product development and engineering, and operating cash for business development. "The expectations are that the round will close very quickly… Our expectation is that we will get to a solid cash flow profitable position with that cash," says Lyon.
The company recently rebranded, opening opportunities for licensing or OEM agreements and new business lines. It plans to drive growth by adding to its established dive and surf products with longer-range higher-margin boat and beach devices, in what is being touted as a win for humans, sharks and the environment.
Prospectus and applications forms can be downloaded from https://events.miraqle.com/ocean-guardian-IPO
Announcement URL: https://youtu.be/Fa6fGR7fDKA
About Ocean Guardian – Shark Shield:
In 2018, the Shark Shield company became Ocean Guardian®. The change of name reflects our bigger ambition – to make you safe whatever you enjoy doing in the Ocean – while also protecting the planet we call home.
Ocean Guardian, powered by Shark Shield Technology, is the world’s only scientifically proven and independently tested electrical shark deterrent. Government approved and developed over two decades of research, Ocean Guardian’s patented technology creates a powerful three-dimensional electrical field which causes safe but unbearable spasms in shark’s short-range electrical receptors, turning sharks away - including Great Whites. Nothing is more effective.
Ocean Guardian safety products are the ultimate ocean guardian – providing peace of mind for surfers, divers, and ocean lovers around the world, while supporting the conservation of marine life by removing the need for shark nets and culling.
Go to Company Profile for: Ocean Guardian – Shark Shield
Announcement Contact: [email protected]