Raising new capital: The facts

Guy D. Reynolds

Recently we told you that the Board of Directors has unanimously approved the appointment of Guy D Reynolds to take over as President and CEO of L.O.M.

We also pointed out that this was conditional on a successful capital raise due to close in April.

At this point we wanted to inform you how this is going ahead. #SEOsecrets

Where do we stand?

As you know, our safety-engineered syringe(click), reduces risk of needlestick injury (click), unsafe injection and getting a virus (click), thereby stopping  disease transmission.

In the process of getting things to the market, we wanted to put the financing in place.

Following several shareholder enquiries about the proposed financing deal to secure the future of LOM I wanted to provide a brief update.

Let me state here:

We have agreed and are close to closing a deal that will raise USD 6.5m by issuing new shares. This means 2,166,667 new shares at a price of USD 3.00

We are aiming to close this deal in May and are in the process of finalising the legalities and documentation.

We are ready for market clearance - a few more challenges we are handling - all is well - | Fotolia id488597882

We are ready for market clearance – a few more challenges we are handling – all is well – | Fotolia id488597882

Why is this important?

This deal allows LOM to repay any existing loans and creditors that are due. As importantly, it provides sufficient working capital to allow us to launch our world class syringe.

I would like to thank you all for your tremendous support.

I will of course continue to come to shareholders if there are any issues for your consideration. The fact that we received

  • over 75 per cent of LOM shareholders endorsing our latest resolution

shows how supportive and united the company is.

It is great that we are united behind the board which allows us to finally achieve our potential.

This is a great time for the business and I look forward to updating you further and meeting you all as soon as possible.

If you have any questions at all please do get in touch through your existing channels.

Join the discussion: Your opinion matters

What interests us is of course your opinion.

If you have any comments or questions please let us know below (#CEOsecrets).

Of course we will reply

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