S-Clave
Mercer Group Limited (NZX:MGL) announces a significant step forward with its
S-Clave medical sterilisation technology.
MGL owns and has been developing a patented medical sterilisation technology
known as S-Clave.
In the last few months, MGL has completed extensive internal trials resulting
in consistent and rigorously controlled sterilisation cycles that have
reached the previously stated goal of materially reducing the currently
accepted industry processing time.
To now bring that technology to market, MGL has signed a Heads of Agreement
(HoA) with Melbourne based A.E.Atherton & Sons (www.atherton.net),
Australasia''s leading manufacturer and supplier of medical steam
sterilisation products. MGL and Atherton will now each commit resources with
the goal of bringing an S-Clave product to market trials and subsequent
production.
The principle terms of the HoA bring together MGL''s technology and Atherton''s
manufacturing and marketing strengths, which both parties believe will prove
successful in bringing a ground breaking technology to market in Australia
and New Zealand in the shortest possible time.
Funding
As per the announcement on 2 March 2016, Gresham Finance Limited, a company
associated with shareholder and director Humphry Rolleston, agreed to
underwrite the deferred consideration due from Mercer Interiors Limited
(''MIL'') that related to the sale of the Interiors business.
MGL has called the underwrite and on 14 June 2016 received $750,000. MGL was
due to receive $450,000 from MIL in February 2017 and $450,000 from MIL in
February 2018.
For further information contact:
Richard Rookes, MGL CEO
021 414 016
End CA:00283982 For:MGL Type:GENERAL Time:2016-06-14 09:30:07