Holista Colltech (ASX:HCT) will issue shares up to a 10% stake to the major shareholder of Swiss Panadoro Group and Matzingen-based Veripan AG, Europe’s largest independent supplier of specialty baking ingredients.
Holista, which recently announced a scientific breakthrough to make white bread healthier with its combination of a blend of okra, lentils, barley and fenugreek with Veripan’s sourdough formula to form PANATURA® GI, will sell shares and free attaching options to Meiert Grootes in tranches.
Grootes will acquire the shares at $0.115 amounting to A$454,734, via a direct placement, equal to a 2.5% holding.
Free attached options will be issued for 11,862,616 new shares, which will enlarge his stake in Holista by a further 7.5% exercisable at various strike prices.
Holista's patented formula scored a Glycemic Index (“GI”) reading of 53, the lowest-ever achieved by any clean-label white bread in a clinical trial.
It will begin marketing PANATURA® GI to the US$170 billion white bread market, a rollout in which Grootes will play a significant role given his 27 years’ experience in the bread industry and contacts in the milling and bakery industry.
Clearly, interesting times are ahead in the roll-out of the product.
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