Business
Investment in Nano Technology
Investment in Nano Technology.
About this update from Pacific Global Holdings Plc
[{"type":"text","content":"\n \n3 May 2016\n\nLIMITLESS EARTH PLC\n\n(\"Limitless\" or the \"Company\")\n\nInvestment in Nano Technology\n\nLimitless, an AIM quoted investing company, is pleased to announce that it has invested US$300,000, approximately £200,000, by way of 8 per cent. convertible senior notes, in Exogenesis Corporation (“Exogenesisâ€). This investment falls within Limitless’ strategy of investments driven by an aging population.\n\nExogenesis, founded in 2005 and based in Billerica, near Boston, Massachusetts is a private nanotechnology company which has developed nanoscale surface modification technology to, inter alia, improve the safety and efficacy of implantable medical devices and is being used to develop next generation microscopy tools for DNA analysis.\n\nThe Exogenesis technology is also being developed to produce next generation integrated circuits and nanoelectronic devices. Exogenesis has initiated license agreements and strategic alliances with partners to commercialise its technology in the fields of cardiovascular disease, orthopaedics, DNA sequencing to enable personalised disease detection and next generation semiconductor production for use in a variety of nanoelectronic devices. It is the opinion of Exogenesis that its proprietary surface modification nanotechnology will enable more cost effective, safer and more efficacious devices for healthcare and a variety of other fields. In relation to its surface modification technology, Exogenesis holds more than fifty granted patents and more than thirty additional patent applications, in multiple jurisdictions.\n\nTo date, Exogenesis has raised approximately US$25 million through a series of investment rounds to develop its portfolio of technologies and applications.\n\nInvestment Terms\n\nLimitless has invested US$300,000 (approximately £200,000,) in the Exogenesis senior convertible notes which accrue an 8 per cent. annual interest (“Notesâ€). The Notes, together with accrued interest, are convertible into Exogenesis series B preferred stock at a price of US$0.382 per share or, at the option of Limitless, into Exogenesis series C preferred stock at a 20 per cent. discount to the issue price at the time of the next financing. Conversion of the notes will occur at the earlier of a further fundraising round of not less than US$5 million...