LONDON (Alliance News) - Provexis PLC on Wednesday launched its new Fruitflow + Omega-3 dietary supplement product and said it has non-legally binding indications of interest in a share subscription to raise a total of GBP185,000.
The food ingredient developer said its new dietary supplement combines its tomato extract product Fruitflow, which was substantiated by the European Food Safety Authority in 2009, with Omega-3, which it says will have an "even greater cardioprotective effect".
Provexis said the product can be used in primary prevention for healthy adults who "understand the dangers of cardiovascular disease and who want to take control of their diet and lifestyle to maintain cardiovascular health".
In a separate statement, Provexis said it has now received non-legally binding indications of interest in a share subscription, first announced earlier this month, to raise a total of approximately GBP185,000 at a subscription price of 0.24 pence per ordinary share. The figure had previously stood at GBP160,000 on June 9, and at the time Provexis had said it was in late stage discussions with a small group of investors.
Shares in Provexis were up 11% at 0.300p on Wednesday.
The non-legally binding indications of interest in the subscription include the indication of a GBP25,000 interest in the subscription from the Provexis's Chairman Dawson Buck, the company said, noting that prior to Buck's non-legally binding indication of interest in the proposed subscription announced on Wednesday, Mr Buck was interested in 15.0 million shares, as at January 7, or a 0.91% stake.
Provexis said the funds would be used to provide working capital.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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Provexis (PXS)