Company raises $6.4M in seed funding to fuel innovation and scale capacity

SAN FRANCISCO, May 1, 2023 — Frontline Wildfire Defense, the leading wildfire defense company for homes and commercial structures, today introduced Frontline Defense System 2, the next-generation of its patented fire defense solution that combines wildfire tracking software, satellite connectivity, and onsite sprinkler hardware to protect any building from wildfire. In addition, the company announced it has raised $6.4M in seed funding led by Echelon to scale its capacity on the West Coast and fuel future product innovation.

“The realities of fire fighting have changed, and we need better tools to adjust to our new normal of year-round fire season,” said Harry Statter, CEO and founder of Frontline Wildfire Defense. “Just like we consider basic features like indoor smoke detectors, solid roofing, and door locks as necessary, Frontline’s external wildfire defense technology is a non-negotiable to any building’s security.”

Defense System 2 offers the first-of-its-kind fire ember threat detection and tracking, providing Frontline customers with early fire warnings and automatic system activation. Ninety percent of homes lost in wildfires are ignited by windborne embers, which can travel seven miles or more from the location of a wildfire, putting structures even in urban environments at risk.

Key Features of Frontline Defense System 2:

• Auto-activation software powers on when a blaze is within seven miles- more than 100x faster than other traditional sensor-based systems that only detect fire within 200 to 300 feet
• Outdoor structural sprinkler system saturates an entire structure and everything within 30 feet, making it too wet to burn
• Satellite connectivity for when power is no longer available at the structure
• Class-A Firefighting Foam provides additional protection, and is the same non-toxic, biodegradable foam used by firefighters
• Precise water application provides optimal protection while balancing water usage and if water pressure drops automatically switches to a secondary water source, such as a pool or tank

The Frontline Wildfire app is also available to anyone with an iOS or Android device. The free app is one of the most downloaded real-time wildfire maps that alerts customized to users’ locations, preparation checklists, and evacuation planning.

“We see a massive opportunity for Frontline’s innovative tools to have a positive impact on home and business owners forced to protect their structures from wildfires,” said Joel Moxley, managing partner of Echelon. “Firefighters are struggling to scale and environments are changing too quickly for many insurance providers to operate, leaving many property owners on their own. Innovation and adaptation are the only ways property owners, insurance providers, and firefighters will be able to operate safely.”

Since launching in 2017, Frontline has protected over $2B in real estate value and is used by summer camps, wineries, commercial buildings, and homes. Frontline Wildfire Defense System 2 is available now for property owners in California and will be available soon in thirteen western states. To learn more about Frontline, visit www.frontlinewildfire.com.

About Frontline Wildfire Defense
Founded in 2017 by Harry Statter, a veteran landscape ecologist and fire mitigation expert, Frontline Wildfire Defense is committed to protecting homes, families, and communities from wildfire disaster. The Frontline Wildfire Defense System empowers homeowners to prepare for wildfire, monitor fires near their home, and protect their home during a wildfire event with Frontline’s exterior sprinkler solution. The Frontline Mobile App, available for free on iOS and Android, provides comprehensive wildfire safety information and immediate evacuation notifications.

SOURCE Frontline Wildfire Defense

Survey Highlights Technology and VC Ecosystem Expectations Amid Economic Uncertainty

SEATTLE, May 1, 2023 — PitchBook, the premier data provider for the private and public equity markets, today released the findings from a new survey conducted by PitchBook’s Institutional Research Group. The H1 2023 VC Tech Survey was administered to 58 venture capital (VC) investors across various industries and a wide range of fund sizes. The survey coincided with two significant events that are likely to have profound impacts on the VC industry – the frenetic adoption of ChatGPT and the collapse of Silicon Valley Bank (SVB). PitchBook’s survey indicates that the VC community is very bullish on the impacts of artificial intelligence (AI); anticipates further declines in VC funding, partly because of SVB’s collapse; and expects valuations to become more attractive over the next year.

“The timing of this survey has allowed us to see investors perspectives on the effects SVB’s undoing has had, which is likely to have lasting ripple effects on startups seeking capital,” said Paul Condra, lead emerging tech analyst at PitchBook. “It’s also notable the extent to which our survey participants view generative AI as a disruptive force, a trend that could spark more deal-making as investors seek more exposure to AI-related opportunities.”

To download the survey findings, click here. Key findings include:

Technology Expectations

• Over the next 12 months, survey respondents were the most bullish on AI being the largest driver of innovation (31.6%) and growth opportunities (36.1%). Over two-thirds of investors surveyed (70.7%) also believe it’s likely that generative AI will spawn a new wave of technology unicorns over the next five years. PitchBook’s recent 2023 Generative AI Vertical Snapshot expects the global generative AI market to reach $42.6 billion in 2023.
• Following AI, climate tech and biotech were also considered significant sources of innovation, with 20.4% and 12.5% of investors expecting the most innovation in the next 12 months, respectively.
• Respondents identified enterprise technology (30.8%), fintech (21.7%) and e-commerce (20.8%) as areas likely to experience disruptive and competitive pressures from startups over the next 12 months.
• When considering the ‘Tech Wreck’ of 2022, respondents were split down the middle in how they viewed its impact on the pace of technological innovation, with 49.1% viewing the impact as positive and 50.9% viewing it as negative.

VC Ecosystem Expectations

• When asked how VC funding will change over the next 12 months, nearly half of respondents (43.1%) said they expect either a moderate or strong decrease in VC funding, while 32.8% said they expect funding levels to remain the same.
• Nearly two-thirds of participants (61.6%) said they believe SVB’s failure would contribute to reduced funding over the next year.
• Over three-fourths of respondents (77.6%) said they expect valuations to get more attractive over the next year, indicating the group still sees some downside to the market. Despite lower valuations, 63.8% of respondents said they are largely still acquiring similar size stakes in VC rounds.
• Investors signaled a marginal degree of optimism related to fundraising, with most saying fundraising plans have not changed (41.3%) and indicating they expect 2023 to be a strong vintage year for fund performance (43.1%). The group noted that targeted tech funds are easier to raise relative than generalist funds, and largely agreed that in the current environment, a startups’ path to profitability was the most important factor in determining whether to invest.

For more information about PitchBook, click here.

About PitchBook
PitchBook is a financial data and software company that provides transparency into the capital markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire venture capital, private equity and M&A landscape—including public and private companies, investors, funds, investments, exits and people. The company’s data and analysis are available through the PitchBook Platform, industry news and in-depth reports. Founded in 2007, PitchBook has offices in Seattle, San Francisco, New York, London, Hong Kong and Singapore and serves more than 90,000 professionals around the world. In 2016, Morningstar acquired PitchBook, which now operates as an independent subsidiary.

SOURCE PitchBook

Initial was created to take on undruggable disease-causing proteins by discriminately intercepting their translation in the exit tunnel of the ribosome

Initial’s platform brings together scientific breakthroughs from the labs of Jamie H.D. Cate, Brian Paegel, and Kevan Shokat

Company’s novel approach seeks to halt serious diseases in initial stages

NEW YORK and SOUTH SAN FRANCISCO, May 1, 2023 — Apple Tree Partners (ATP), a leader in life sciences venture capital, today announced the launch of Initial Therapeutics, a biotechnology company created to make medicines that block notoriously difficult-to-drug protein targets with a new mode of action: selective termination of protein synthesis (STOPS). Initial developed its proprietary STOPS platform to discover new therapeutics based on the recently demonstrated scientific premise that translation of a specific protein can be selectively interrupted at the moment in which its linear sequence is first produced in the exit tunnel of the ribosome.

Initial was created by ATP with $75 million in Series A funding and co-founders Jamie H.D. Cate, Ph.D., Professor of Chemistry, Biochemistry, Biophysics, and Structural Biology at the University of California (UC) Berkeley; Brian Paegel, Ph.D., Professor of Pharmaceutical Sciences, Chemistry, and Biomedical Engineering at UC Irvine; and Kevan Shokat, Ph.D., Professor of Cellular and Molecular Pharmacology at UC San Francisco (UCSF) and Chemistry at UC Berkeley.

“Initial grew out of conversations between Jamie, Kevan, Brian, and me about work we had each been doing in these intersecting areas of protein synthesis kinetics, ribosome profiling, rapid chemistry, etc., and how we could collaborate to build something new to expand on the idea of selectively modulating protein translation, which we all saw as potentially transformative,” said Spiros Liras, Ph.D., founding CEO of Initial Therapeutics and a venture partner at ATP. “The resulting combination of unmatched expertise and technologies brought by our founders grants Initial unique abilities to prosecute this new approach, and we are very excited about its promise to fight certain cancers and other serious illnesses.”

Groundbreaking structural biology work from the Cate Lab has revealed how protein synthesis can be affected selectively in any phase of translation by interactions of small molecules with a complex that includes the ribosome and the nascent peptide chain of a target protein. Within Initial, this work has been industrialized with custom ribosomal assays scaled to ultra-large library screening using miniaturized microfluidics technology from the Paegel Lab.

“We started Initial Therapeutics to go after therapeutically important proteins that no one has been able to target successfully. I’m thrilled to see the amazing progress the Initial team has made on that front, with profound implications for the treatment of life-threatening diseases,” Dr. Cate said.

Initial designs small molecule therapeutics to modulate the cellular synthesis of known, well-validated, high-value targets. Unlike interventions that work with mature proteins, such as targeted protein stabilization and protein degradation, Initial’s strategy circumvents the need to accommodate the cellular activity of the fully formed protein or to structurally solve for docking. Moreover, preventing protein synthesis may stave off aggregate formations and other disease-related molecular pathologies that are difficult to reverse, and in that regard Initial’s approach may offer therapeutic benefit.

“Where other drug modalities involve recognition of the three-dimensional shape of the protein, Initial’s modality recognizes the primary linear sequence. I see that as a game-changer,” said Dr. Shokat. “Some proteins don’t have ligandable pockets, but a linear sequence, that’s in everything. Initial’s bespoke platform allows us to go into the ribosome, the machinery of mRNA translation, in a selective way that has never before been technically possible.”

“When the therapeutic approach doesn’t concern mature proteins, the rules of drug discovery change and the universe of what is ‘druggable’ expands significantly,” Dr. Paegel said.

About Initial Therapeutics

Initial Therapeutics discovers and develops new small molecule treatments focused on known, rationally selected targets that play key roles in cancer and other serious illnesses. Initial interdicts high-value protein targets with its STOPS (selective termination of protein synthesis) platform. Selectively modulating translation of pathogenic proteins in the exit tunnel of the ribosome, when the proteins are in their linear sequence stage and before they are fully formed, makes possible a new kind of therapeutic with the potential to stop disease processes in their initial, earliest stages.

Located in South San Francisco, Initial Therapeutics was founded by life sciences venture capital firm Apple Tree Partners and a team of prominent, veteran biotechnology entrepreneurs who have pioneered advances in ribosome biochemistry, proteomics, medicinal chemistry, DNA-encoded library technology, and chemical genetics. Initial’s proprietary platform brings together technologies from its founders into uniquely enabling combinations of expertise and capabilities. For more information, visit www.initialtx.com.

About ATP

Founded in 1999, Apple Tree Partners (ATP) is a leader in life sciences venture capital, with $2.65 billion in committed capital and offices in New York, London, San Francisco, and Cambridge, MA. ATP creates companies starting at various stages, from pre-IP ideas to asset spinouts, investing in them from seed stage through IPO and beyond. The core of ATP’s strategy is providing flexible capital and access to a world-class team of venture partners and EIRs, to build sustainable, research-driven enterprises that deliver therapeutics to improve human lives. For more information, visit www.appletreepartners.com.

Media Contact
Sally Jacob
[email protected] 

SOURCE Initial Therapeutics

Kyiv-Based Horizon Capital Surpasses its $250m Target at In-Person Signing Ceremony with President Volodymyr Zelenskyy and Investors

U.S., EU and Global Institutions Join Forces to Boost Growth Capital Available for Ukrainian Entrepreneurs, Championing the First 2X Flagship Fund in Central and Eastern Europe

KYIV, Ukraine, April 28, 2023 — Horizon Capital, a U.S. private-equity firm investing primarily in fast-growing tech and export-oriented companies in Ukraine, announced that its latest fund, Horizon Capital Growth Fund IV (HCGF IV, the “Fund”) has reached $254 million at its Interim Closing held today in Kyiv, Ukraine. In besting its $250m target size at this second closing, the Fund demonstrates strong investor appetite for compelling opportunities in high-growth, high-impact tech and export-oriented companies, including light manufacturing, food processing, innovative consumer goods, fintech and more. Fund investments are expected to contribute to Ukraine’s ongoing resilience, including supporting growth and job creation, expanding the tax base, increasing availability of capital for SMEs, and promoting gender equality.

Lenna Koszarny, Founding Partner and Chief Executive Officer, said, “Today, Horizon Capital and our esteemed group of investors have made history, as the first growth capital and largest fund raised since the onset of the full-fledged invasion. Global institutions are uniting today to back a reputable team with a bold vision, proven investment strategy and track record. They have chosen to look past the headlines, to be brave, to move forward quickly and decisively and in doing so, to demonstrate to the leadership and people of Ukraine that they stand with Ukraine at this defining moment. For several of HCGF IV’s international backers, this marks their first commitment to Ukraine since the onset of the full-fledged invasion, and paves the way for billions of dollars in financing for other worthy projects to follow”. She added: “As we look to the future, we are inspired by the entrepreneurs driving Ukraine’s business resilience and their unwavering commitment, heroic actions and steadfast belief in the country and its victorious future. We look forward to continuing to back these visionary entrepreneurs to grow and develop their businesses, and plan to conclude the Fund’s first investments within one to two months.”

At today’s historic ceremony, the Fund welcomed increased commitments since first closing from the International Finance Corporation (“IFC”) and the European Bank for Reconstruction and Development (“EBRD”); a new commitment from existing investor Société de Promotion et de Participation pour la Coopération Économique (“Proparco”); as well as attracting investments from the U.S. International Development Finance Corporation (“DFC”), the Swedfund International AB (“Swedfund”), Finnish Fund for Industrial Cooperation Ltd. (“Finnfund”) and Danish Investment Fund for Developing Countries (“IFU”). These esteemed parties joined existing investors, including Deutsche Investitions- und Entwicklungsgesellschaft (“DEG”) and a subsidiary of KfW Group, the Dutch Entrepreneurial Development Bank (“FMO”), the Swiss Investment Fund for Emerging Markets (“SIFEM”), the Western NIS Enterprise Fund, and the Zero Gap Fund, an impact investing collaboration between The Rockefeller Foundation and the John D. and Catherine T. MacArthur Foundation. 

HCGF IV also became the first fund in Central and Eastern Europe (CEE) to be awarded 2X Flagship Fund status, 1 of circa 10 globally attaining the highest 2X Challenge designation for funds, and an estimated 1 of 2 such funds led by a female Founding Partner & CEO. 2X Challenge was launched at the G7 Summit 2018 as a bold commitment to invest in the world’s women and promote gender equality in finance.

Horizon Capital (www.horizoncapital.com.ua) is the leading private equity firm in Emerging Europe with $1.4 billion in assets from investors with a capital base exceeding $630 billion, raising over $700 million in growth capital to back visionary entrepreneurs from Ukraine and Moldova (the “Region”) in just over 5 years. Horizon Capital-managed funds have invested in over 160 companies employing more than 77,000 people in the Region.

This press release is provided for information purposes only. Horizon Capital is not hereby providing investment advice or providing any person with any right to rely on the contents of this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy limited partnership interests in Horizon Capital Growth Fund IV LP (the “Interests”) or any other security in any jurisdiction and shall not, in any circumstance, constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. There is no public offering of the Interests. The Interests are being offered by means of a private placement to suitable investors.

Media contact:
Tetyana Bega
+380684481625
[email protected]

Logo – https://mma.prnewswire.com/media/1906660/3678499/Horizon_Capital_Logo.jpg

SOURCE Horizon Capital

WESTPORT, Conn. and WASHINGTON, April 28, 2023 — True Green Capital Management LLC (“TGC”), a renewable energy infrastructure investment firm, and CleanChoice Energy (“CleanChoice”), the cleantech company that easily empowers people and businesses to access climate solutions, are pleased to announce that they have signed definitive documentation for TGC to acquire a majority ownership in CleanChoice and provide dedicated capital to fund CleanChoice’s solar development pipeline. The acquisition will fuel CleanChoice’s growth as the first 100% independent green gen-tailer in the US, operating at both ends of the value chain by owning solar generation assets and selling renewable energy to customers in multiple competitive markets across the US.

TGC will maintain the CleanChoice brand and team and invest an additional $100 million of capital into developing, acquiring, owning, and operating CleanChoice solar projects. CleanChoice currently has a development portfolio of over 300 MW in various stages of development and is actively pursuing acquisition and co-development opportunities across its territories of focus. The deal will expand TGC’s footprint to include solar power generation in sixteen US states, including Pennsylvania and Ohio, along with approximately 215,000 residential customers. The initial focus will be in the ISO-NE, NYISO, and PJM markets.

“We are excited to welcome CleanChoice into our portfolio,” said Panos Ninios, Managing Partner and Co-Founder of TGC. We continue to believe that the combination of green customers with solar power development and asset ownership will be paramount in the clean energy transition regime we operate in. In CleanChoice, we have found a best-in-class management team with a unique multi-year track record in combining solar power development with a proprietary customer acquisition and management platform.”

The acquisition of CleanChoice underscores TGC’s commitment to quickly, reliably, and cost efficiently expand renewable energy generation and demonstrates the attractiveness of a largely untapped opportunity to pair owned renewable generation with renewable retail supply. The combination will enhance CleanChoice’s retail business by securing long term access to power, capacity, and RECs and reducing exposure to wholesale commodity markets, setting up operational savings and differentiated renewable products.

“This is a significant milestone for CleanChoice, and it was important for us to find a mission aligned buyer who shares our commitment to empowering customers and building a greener future,” said Tom Matzzie, CEO of CleanChoice. “We have found that in TGC, and we look forward to rapidly expanding our farm-to-table clean energy offerings and, with their support, making clean energy more accessible to more people.”

“We are thrilled to partner with CleanChoice on their journey to becoming a fully integrated green utility,” said Bo Wiegand, a Partner and Co-Founder of TGC.  “We see this as a natural extension of our firm’s community solar strategy – providing more customers with access to locally-generated renewable energy, while also enabling high quality retail offtake for our project assets.”

CleanChoice’s next five years will be focused on developing, constructing, and operating its project portfolio and providing more consumers with easy, convenient, 100% pollution free energy. The transaction is expected to close in the next 60 to 90 days. 

CIBC Capital Markets served as exclusive financial advisor for TGC and DLA Piper served as legal counsel in connection with the transaction. Guggenheim Securities, LLC served as exclusive financial advisor and Pillsbury Winthrop Shaw Pittman LLP served as legal counsel to CleanChoice. 

About True Green Capital Management LLC
TGC is a specialized renewable energy infrastructure investment firm based in Westport, Connecticut. Having developed the capabilities of a direct operating business, TGC has raised four private equity funds with over $1 billion of equity capital, including closing in May 2022 its fourth fund with over $660 million of equity to be invested over the next four years. To date, TGC has invested in distributed solar power generation portfolios across 16 U.S. states and Europe, delivering clean and reliable renewable energy to its counterparties. The firm was founded in July 2011 and is led by a team of investment professionals with a proven track record and the demonstrated capacity to originate, finance, construct, operate, and exit distributed renewable power generation projects on an institutional scale. To learn more, visit https://truegreencapital.com/.

About CleanChoice Energy
CleanChoice, a direct-to-consumer clean energy provider, makes it easy for consumers and businesses to purchase clean energy from renewable sources. Available nationwide, CleanChoice helps Americans support renewable energy, reduce pollution and live cleaner and healthier lives. Founded in 2012 and acquired by True Green Capital Management LLC in 2023, CleanChoice is the first American 100% green gentailer – pairing renewable generation with direct-to-consumer retail offerings. CleanChoice is a Certified B Corporation and was awarded the highest available rating by Green America’s Green Business Network. For more information or to become a clean energy customer, visit CleanChoiceEnergy.com.

SOURCE CleanChoice Energy; True Green Capital Management LLC

NEW YORK and SINGAPORE, April 28, 2023 — Lotus Technology Inc. (“Lotus Tech” or the “Company”), a leading global luxury electric vehicle maker, announced today that it has entered into agreements with strategic partners and business partners for a total investment amount of approximately $122 million, which are subject to customary terms and conditions (including regulatory approvals) included in the definitive documentation. The financing marks a robust start to the Company’s ongoing fundraising and a major milestone in its planned business combination with L Catterton Asia Acquisition Corp (“LCAA”) (NASDAQ: LCAA), a special purpose acquisition company formed by affiliates of L Catterton, a leading global consumer-focused investment firm.

The financing demonstrates the strength of market confidence in Lotus Tech as the Company progresses to complete the previously announced business combination, which is expected to close later this year. The funds expected to be provided by the financing are intended to be used to further advance Lotus Tech’s development of next-generation automobility technologies, continue the Company’s expansion of its global distribution network, and promote product innovation.

The global luxury electric vehicle market is expected to expand at a compound annual growth rate of 35% between 2021 and 2031, reaching over 1.9 million units by the end of that period.^[1] “As an early mover in the market, Lotus Tech is well-positioned to address unfilled demand and capitalize on the segment’s rapid growth. Our strategic partners are eager to contribute to our development with additional capital,” said Mr. Qingfeng Feng, Chief Executive Officer of Lotus Tech.

“We are encouraged by this support from our strategic partners as they continue to invest and demonstrate confidence in our performance and growth potential,” added Mr. Feng. “Beyond providing capital, our strategic partners’ extensive global relationships and deep industry expertise will help accelerate our business and technology development and product roll-out. We look forward to further executing our strategy and steering the industry towards a more sustainable future.”

^[1] According to research by Oliver Wyman, LLC.

Overview of the Transactions Contemplated by the Business Combination

On January 31, 2023, Lotus Tech and L Catterton Asia Acquisition Corp announced the signing of a definitive agreement related to a proposed business combination that would result in Lotus Tech becoming a public company. Upon completion of the business combination, the combined company is expected to retain Lotus Tech’s name as “Lotus Technology Inc.” and its ordinary shares are expected to be listed on the Nasdaq under the ticker symbol “LOT.”

About Lotus Technology

Lotus Technology Inc., headquartered in Wuhan, China, has operations across China, the UK, and the EU. The Company is dedicated to delivering luxury lifestyle battery electric vehicles including SUVs and sedans with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more. For more information about Lotus Technology Inc., please visit www.group-lotus.com.

About L Catterton Asia Acquisition Corp 

L Catterton Asia Acquisition Corp (NASDAQ: LCAA) is a blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. While it may pursue an initial target business in any industry or sector, it has focused its search on high-growth, consumer technology sectors across Asia. For more information about L Catterton Asia Acquisition Corp, please visit www.lcaac.com.

About L Catterton

L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of equity capital across three multi-product platforms: private equity, credit and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit lcatterton.com.

Forward-Looking Statements

This press release (the “Press Release”) contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, that are based on beliefs and assumptions and on information currently available to Lotus Tech and LCAA. All statements other than statements of historical fact contained in this Press Release are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by LCAA and its management, and Lotus Tech and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of definitive agreements with respect to the proposed Business Combination between LCAA, Lotus Tech and the other parties thereto (the “Business Combination”); (2) the outcome of any legal proceedings that may be instituted against LCAA, the Combined Company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the amount of redemption requests made by LCAA public shareholders and the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of LCAA, to obtain financing to complete the Business Combination or to satisfy other conditions to closing and; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of the Company as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the Combined Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination; (9) risks associated with changes in applicable laws or regulations and Lotus Tech’s international operations; (10) the possibility that Lotus Tech or the Combined Company may be adversely affected by other economic, business, and/or competitive factors; (11) Lotus Tech’s estimates of expenses and profitability; (12) Lotus Tech’s ability to maintain agreements or partnerships with its strategic partner Geely Holding and to develop new agreements or partnerships; (13) Lotus Tech’s ability to maintain relationships with its existing suppliers and strategic partners, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (14) Lotus Tech’s reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (15) Lotus Tech’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching fire or venting smoke; (16) delays in the design, manufacture, launch and financing of Lotus Tech’s vehicles and Lotus Tech’s reliance on a limited number of vehicle models to generate revenues; (17) Lotus Tech’s ability to continuously and rapidly innovate, develop and market new products; (18) risks related to future market adoption of Lotus Tech’s offerings; (19) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (20) Lotus Tech’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Lotus Tech by its partners in order for Lotus Tech to be able to increase its vehicle production capacities; (21) risks related to Lotus Tech’s distribution model; (22) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on Lotus Tech’s future business; (23) changes in regulatory requirements, governmental incentives and fuel and energy prices; (24) the impact of the global COVID-19 pandemic on LCAA, Lotus Tech, Lotus Tech’s post business combination’s projected results of operations, financial performance or other financial metrics, or on any of the foregoing risks; and (25) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in LCAA’s final prospectus relating to its initial public offering (File No. 333-253334) declared effective by the SEC on March 10, 2021, and other documents filed, or to be filed, with the U.S. Securities and Exchange Commission (the “SEC”) by LCAA or Lotus Tech, including the Registration/Proxy Statement (as defined below). There may be additional risks that neither LCAA nor Lotus Tech presently know or that LCAA or Lotus Tech currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved in any specified time frame, or at all, or that any of the contemplated results of such forward-looking statements will be achieved in any specified time frame, or at all. The forward-looking statements in this Press Release represent the views of LCAA and Lotus Tech as of the date they are made. While LCAA and Lotus Tech may update these forward-looking statements in the future, LCAA and Lotus Tech specifically disclaim any obligation to do so, except to the extent required by applicable law. You should not place undue reliance on forward-looking statements.

Projections

Lotus Tech’s independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Press Release, and accordingly, they did not express an opinion or provide any other form of assurance with respect thereto for the purpose of this Press Release. These projections should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. While such information and projections are necessarily speculative, LCAA and Lotus Tech believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Lotus Tech or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this Press Release should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved.

Actual results may differ as a result of the completion of Lotus Tech’s financial reporting period closing procedures, review adjustments and other developments that may arise between now and the time such financial information for the period is finalized. As a result, these estimates are preliminary, may change and constitute forward-looking information and, as a result, are subject to risks and uncertainties. Neither Lotus Tech’s nor LCAA’s independent registered accounting firm has audited, reviewed or compiled, examined or performed any procedures with respect to the preliminary results, nor have they expressed any opinion or any other form of assurance on the preliminary financial information.

Additional Information

In connection with the proposed Business Combination, (i) Lotus Tech is expected to file with the SEC a registration statement on Form F-4 containing a preliminary proxy statement of LCAA and a preliminary prospectus (the “Registration/Proxy Statement”), and (ii) LCAA will file a definitive proxy statement relating to the proposed Business Combination (the “Definitive Proxy Statement”) and will mail the Definitive Proxy Statement and other relevant materials to its shareholders after the Registration/Proxy Statement is declared effective. The Registration/Proxy Statement will contain important information about the proposed Business Combination and the other matters to be voted upon at a meeting of LCAA shareholders to be held to approve the proposed Business Combination. This Press Release does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination.

Before making any voting or other investment decisions, securityholders of LCAA and other interested persons are advised to read, when available, the Registration/Proxy Statement and the amendments thereto and the Definitive Proxy Statement and other documents filed in connection with the proposed Business Combination, as these materials will contain important information about LCAA, Lotus Tech and the Business Combination. When available, the Definitive Proxy Statement and other relevant materials for the proposed Business Combination will be mailed to shareholders of LCAA as of a record date to be established for voting on the proposed Business Combination. Shareholders will also be able to obtain copies of the Registration/Proxy Statement, the Definitive Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: LCAA, 8 Marina View, Asia Square Tower 1, #41-03, Singapore 018960, attention: Katie Matarazzo.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Participants in the Solicitation

LCAA and Lotus Tech, and certain of their directors and executive officers, may be deemed participants in the solicitation of proxies from LCAA’s shareholders with respect to the proposed Business Combination. A list of the names of those directors and executive officers and a description of their interests in LCAA is set forth in LCAA’s filings with the SEC (including LCAA’s final prospectus related to its initial public offering (File No. 333-253334) declared effective by the SEC on March 10, 2021), and are available free of charge at the SEC’s web site at www.sec.gov, or by directing a request to LCAA, 8 Marina View, Asia Square Tower 1, #41-03, Singapore 018960, attention: Katie Matarazzo. Additional information regarding the interests of such participants and other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the proposed Business Combination will be contained in the Registration/Proxy Statement for the proposed Business Combination when available.

No Offer and Non-Solicitation

This Press Release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of LCAA or Lotus Tech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

Contact Information

For inquiries regarding Lotus Tech

Demi Zhang
[email protected]

Brunswick Group
[email protected]

For inquiries regarding LCAA and/or L Catterton
Julie Hamilton (U.S.)
[email protected]
+1 203 742 5185

Bob Ong / Bonnie Gan (Asia)
[email protected] / [email protected]
+65 6672 7619 / +86 10 8555 1807

SOURCE Lotus Technology Inc.

SYDNEY, April 28, 2023 — Fast-growing music licensing platform Melodie has secured new funding at a $15 million valuation, surging up from the last raise valuation of $4 million in September 2021. Melodie is achieving significant growth by expanding its music API licensing revenue base, bringing in new composers and music tracks, and placing its catalogue in more film & TV productions.

The new and oversubscribed round of A$1 million includes follow-on investments from early Atlassian employee and Code Barrel founder Nick Menere, and the co-owner of The Drop Festival, Peter Strain.

Melodie‘s tech-enabled music licensing solutions now cover the creator economy, film & TV sync, and more recently UGC-centric creative technology platforms with users – as seen in Breakout Clips, Creatopy and Pictory – all integrating directly via the Melodie API, which now receives more than 2 million search and download calls each day.

Having recently launched a US sync division under the leadership of LA-based industry veteran Gary Helsinger, Melodie continues to gain traction globally with placements in TV shows like Armed & Dangerous, Real Housewives, Matt Wright’s Wild Territory, Bondi Rescue, Lift the Ice, EVOLVE, Ninja Warrior and Outback Car Hunters. Melodie platformed music is now heard around the world and boasts more than 2 million minutes of music broadcast on free-to-air and VOD platforms in Australia alone.

This latest round of funding will be used to further fuel growth in Melodie’s three core segments – B2C, B2B, B2B2C – with a particular focus on growing Melodie’s footprint in the US market. 

Having just returned from exhibiting at US broadcast media trade show, NAB, Melodie Founder and Managing Director, Evan Buist, said, “It’s been a strong 18 months of catalogue growth, broadcast placements and client acquisitions. Royalties are on the move and LTM revenues are up 250%. I’m confident we have a strong growth trajectory with offshore revenues set to exponentially increase in the coming months and years as we expand into new territories.  As we mark our fifth year of operation, we are now at the stage of building a global presence and we are committed to playing a significant role in the development and commercialisation of new talent.”

As an Australian born library, Melodie is also proud to represent music from a diverse local roster of artists including ARIA award winning composers such as Helena Czajka (Bluey) and Brendan Gallagher (Messenger, Karma County) as well as First Nations talent such as Yuin Nation hip hop artist, Nooky, and acclaimed singer/songwriter, musician and recording engineer, James Henry.

With client requests driving demand, and acknowledging the need for investment in the development of Australian First Nations music, this year and every year moving forward, Melodie has committed to investing a minimum of $25,000 in the development of new and upcoming Aboriginal and Torres Strait Islander artists for sync opportunities via the Melodie platform. Evan Buist says, “The demand from our clients to license authentic music from First Nations artists has never been greater. Our goal is to be a driving force in the development of a First Nations Screen Music Economy: to engage and connect Australia’s incredible Aboriginal and Torres Strait Islander artists with the myriad opportunities around music synchronisation and royalties.”

About Melodie:
Melodie is a tech-enabled music licensing platform providing authentic music for creators, businesses and creative platforms. Powered by AI search tools, and with an award-winning roster of artists, Melodie makes it fast, affordable and incredibly easy to find and license great music for any type of content.
www.melod.ie

Contact:
Evan Buist
+610409451429
[email protected] 

SOURCE Melodie

Rohan Taori Will Use the $100,000 O’Shaughnessy Fellowship Grant to Build Foundational Video and Text-Based AI Models

GREENWICH, Conn., April 28, 2023 — O’Shaughnessy Ventures LLC (“OSV”), an investment firm that empowers creators, has announced that it has awarded an O’Shaughnessy Fellowship to Rohan Taori. 

Taori will use the $100,000 fellowship grant to create flexible, accessible and interactive AI models that can handle complex and diverse data. These models will be trained on large amounts of video data, empowering users to edit, generate and reason about video content easily.

OSV’s founder and CEO, Jim O’Shaughnessy, commented as follows:

“By building accessible, interactive models which make video content easier to edit and generate, Rohan is demonstrating my firm belief that the AI revolution will unleash a new era of human creativity. OSV will be doing everything we can to support him over the coming months.”

Taori said, “I’m excited to use the fellowship grant to build foundational video and text-based AI models that enhance human creativity.”

About Taori

Taori is a machine learning engineer who grew up in the Bay Area.

He is currently pursuing his Ph.D. at Stanford University, where he has trained AI models with synthetic data, tuned them to follow user instructions, and increased their reliability. Previously, he studied and taught computer science at the University of California, Berkeley.

More information about Taori can be found on his website.

About the Fellowship Program

OSV launched the Fellowship Program in 2023. It is a one-year program for ambitious people who want to build something great. Fellows receive a $100,000 grant and access to OSV’s network of founders, investors and experts to support them in bringing their projects to life. 

OSV has awarded seven Fellowships to date and will award twelve in total. Applications for the Fellowships remain open through April 2023. Creators interested in applying can do so via OSV’s website.

About O’Shaughnessy Ventures

OSV is a creative investment firm that empowers and inspires creators to bring their ideas to life. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of four books on investing, OSV aims to provide financial support and to partner in growing the next life-changing creative ideas. 

OSV combines Jim’s deeply rooted interest in all things art, science, investing, and tech with his long-held desire to establish scenarios designed to help promising creators and their inspiring ideas succeed, regardless of age, location, job history, or level of education. For more information, visit https://www.osv.llc/.

Ena Gong
O’Shaughnessy Ventures LLC
(917) 355-7420
[email protected]

SOURCE O’Shaughnessy Ventures, LLC

Bioretec Ltd Inside information 27 April 2023 at 6:31 p.m. EEST

THE INFORMATION CONTAINED IN THIS RELEASE IS NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA OR THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

TAMPERE, Finland, April 27, 2023 — Bioretec Ltd (“Bioretec” or the “Company“), a pioneer in bioabsorbable orthopedic implants, hereby announces its intention to issue new shares (the “Placing Shares“) in a private placement to institutional and other qualified investors (the “Placing“) to raise approximately EUR 10 million in gross proceeds.

The number of Placing Shares and their subscription price will be decided based on offers received in an accelerated book building. Danske Bank A/S, Finland Branch (“Danske Bank“) and Swedbank AB (publ) (“Swedbank“), in cooperation with Kepler Cheuvreux SA are acting as the Joint Bookrunners of the Placing. The result of the Placing will be published by way of a company announcement after the completion of the book building. The book building will be launched immediately following the publication of this company announcement. The book building can be discontinued or extended at any time during the book building process.

The purpose of the contemplated Placing is to raise funds to accelerate the U.S. commercialization and distribution of Bioretec’s RemeOs™ products, facilitate the expansion of manufacturing capacity for RemeOs™ products, and enhance the product development of other RemeOs™ products, following the U.S. market authorization received by the Company for its RemeOs™ trauma screw from the U.S. Food and Drug Administration (FDA), as announced on 30 March 2023.

The Placing will be carried out based on the authorization granted to the board of directors by the Company’s annual general meeting of 13 April 2022.

Subject to the completion of the Placing, the Placing Shares (ISIN code FI4000480454) will be registered with the trade register maintained by the Finnish Patent and Registration Office on or about 28 April 2023. The Placing Shares are expected to be ready for delivery to the investors against payment through Euroclear Finland Oy on or about 3 May 2023. Trading in the Placing Shares is expected to commence on Nasdaq First North Growth Market Finland on or about 3 May 2023.

The Company as well as four of the five largest shareholders in the Company, whose shares represent approximately 20.6 per cent of the outstanding shares in the Company, intend to enter into customary lock-up undertakings for a period of 180 days in connection with and subject to completion of the Placing.

The Company estimates that considering its current business plan and the targeted size of the Placing, the gross proceeds raised in the Placing will be sufficient until the end of 2026.

The Placing is expected to allow the Company to obtain financing on terms and timetable that, in the assessment of the Company, will be more beneficial than terms that would otherwise be available, and therefore weighty financial reasons exist for deviating from the pre-emptive rights of the shareholders.

Danske Bank and Swedbank, in cooperation with Kepler Cheuvreux SA are acting as the Joint Bookrunners of the Placing. Krogerus Attorneys Ltd is acting as the legal counsel to the Company and Borenius Attorneys Ltd is acting as the legal counsel to the Joint Bookrunners.

Bioretec Ltd
Board of directors

Further enquiries

Timo Lehtonen, CEO, +358 50 433 8493
Tomi Numminen, Chairman of the Board, +358 40 581 2132

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device company that continues to pioneer the application of bioabsorbable orthopedic implants. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries. 

Bioretec is developing the new RemeOs™ product line based on a magnesium alloy and hybrid composite, introducing a new generation of strong bioabsorbable materials for enhanced surgical outcomes. The RemeOs™ implants are resorbed and replaced by bone, eliminating the need for removal surgery while facilitating fracture healing. The combination has the potential to make titanium implants redundant and help clinics reach their Value-Based Healthcare targets while focusing on value for patients through efficient healthcare. The first RemeOs™ product market authorization has been received in the U.S. during March 2023 and CE-mark is expected to receive in Europe during 2023. Bioretec is positioning itself to enter the addressable over USD 7 billion global orthopedic trauma market and to become a game changer in surgical possibilities.

Better healing – Better life. www.bioretec.com 

Forward-looking statements

This company release includes forward-looking statements which are not historical facts but statements regarding future expectations instead. These forward-looking statements include without limitation, those regarding Bioretec’s future financial position and results of operations, the company’s strategy, objectives, future developments in the markets in which the company participates or is seeking to participate or anticipated regulatory changes in the markets in which the company operates or intends to operate. In some cases, forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “plan,” “potential,” “predict,” “projected,” “should” or “will” or the negative of such terms or other comparable terminology.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance and are based on numerous assumptions. The company’s actual results of operations, including the company’s financial condition and liquidity and the development of the industry in which the company operates, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this company release.

Important notice

The distribution of this release may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restrictions. The information contained herein is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, Singapore, South Africa or the United States or in any other jurisdiction in which publishing or distributing would be prohibited by applicable law. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This release is not directed to, and is not intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

This release does not constitute a prospectus as defined in the Prospectus Regulation ((EU) 2017/1129) and as such, does not constitute or form part of and should not be construed as, an offer to sell, or the solicitation or invitation of any offer to buy, acquire or subscribe for, any securities or an inducement to enter into investment activity.

This release is directed only to (A) persons who are outside the United States of America; (B) persons who are resident in a Member State of the European Economic Area and are a qualified investor (within the meaning of Article 2(1)(e) of Regulation (EU) 2017/1129 (the “Prospectus Regulation“)); and (C) as regards the United Kingdom, persons who are “Qualified Investors” within the meaning of Article 2(1)(e) of the Prospectus Regulation as it forms part of English law by virtue of the European Union (Withdrawal) Act 2018, who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order“); (ii) high net worth entities; and (iii) and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “Relevant Persons“). Any securities mentioned herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. No one who is not a Relevant Person shall act on the basis of this release.

This release does not constitute an offer for sale of securities in the United States. The shares may not be offered or sold within the United States absent of registration or an exemption under the U.S. Securities Act 1933 (as amended). The Company has not registered and it does not intend to register, any portion of the offering in the United States, and it does not intend to conduct a public offering in the United States.

The Joint Bookrunners act only for and on behalf of the Company in connection with the Placing. The Joint Bookrunners do not hold any other party as their client or cannot be held accountable to advise other parties than the Company with regards to the Placing or other matters referred hereto.

Information to Distributors

Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II“); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements“), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the Placing Shares have been subject to a product approval process, which has determined that such Placing Shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment“). Notwithstanding the Target Market Assessment, distributors should note that: the price of the  Placing Shares may decline and investors could lose all or part of their investment; the Placing Shares offer no guaranteed income and no capital protection; and an investment in the Placing Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to any offering of the Placing Shares. Furthermore, it is noted that, notwithstanding the Target Market Assessment, Danske Bank and Swedbank as Joint Bookrunners, will only procure investors who meet the criteria of professional clients and eligible counterparties.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Placing Shares.

Each distributor is responsible for undertaking its own target market assessment in respect of the Placing Shares and determining appropriate distribution channels.

SOURCE Bioretec