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Refresh Group is looking beyond distilled drinking water

Refresh Group (ASX:RGP) has taken up a $300,000 placement of shares in Eve Investments (ASX:EVE), an investment company focused on the technology sector, at $0.008 per share.
Refresh Group is looking beyond distilled drinking water
Refresh Group is focused on the technology sector.

Eve currently has a 24% interest in Melbourne-based Omniblend Innovation Pty Ltd and plans to increase its investment in Omniblend to 40%.

Omniblend is developing evidence-based dietary interventions to improve the lives of people with common chronic diseases such as type 2 diabetes and low blood pressure.

Its maiden product is Faulding® GlucoControl, a patented food grade pre-meal drink for people with type 2 diabetes and pre-diabetes.

The pre-meal drink has been clinically shown to reduce blood glucose level peaks by 35% after carbohydrate containing meals.

Incidentally, Refresh, which is Australia’s largest producer of distilled drinking water, is currently doing research and development into a range of bottled water targeting the health market.

The company plans to work with Eve and Omniblend to jointly market some of their products.

Refresh earned total comprehensive income of $36,718 on a revenue of $6.1 million for the year ended 30 June 2016, compared to 59,079 total comprehensive loss in 2015.

The company’s operations in New South Wales and Victoria achieved record profits, in spite of being badly affected in the mining states of Western Australia and Queensland.

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