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Agronomics Ltd - Isle of Man, UK-based cellular agriculture company - Leads GBP1.7 million seed financing of cellular agriculture firm Clean Food Ltd with a GBP577,500 investment to subscribe for 5.8 million shares, bringing its total holdings to 35%, worth GBP3.8 million.
SEED Innovations Ltd also takes part in the financing, with an investment of GBP171,000, bringing its holding in Clean Food to 5.4%.
"We are thrilled to be supporting Clean Food Group and broadening our portfolio into sustainable bio-equivalent palm oil. This is an important and exciting development, and this latest investment will help Clean Food Group to achieve R&D milestones and prepare regulatory dossiers for approval. The technology has huge scale potential and we look forward to being part of the company's next stage of growth," said Executive Director Jim Mellon.
Agronomics current stock price: 17.50 pence
12-month change: down 25%
SEED Innovations current stock price: 4.40 pence
12-month change: down 49%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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