Green chemistry innovator Leaf Resources is tapping investors for another $6 million to expand its rosin and terpenes production to 16,000 tonnes per annum, following its first purchase order from the Yasuhara Chemical Company.The company has appointed Sequoia Corporate Finance to manage the one-tranche placement, with bids by 11am on Wednesday.Leaf Resources is raising funds to power additional extraction of the natural substances needed to make clean, sustainable pine chemicals. Darrian TraynorThe offer is on the table at 10¢ per share – a 9.1 per cent discount to its last close of 11¢.Leaf utilises its patented organic solvent production process to extract sustainable and clean pine chemicals from resinous pine logs and stumps at significantly lower cost than existing global supply, without the chemical additives traditionally used.Rosin and its chemical derivatives are mainly used to make things like soaps, varnishes, sealing wax, printer inks, driers, adhesives, soldering fluxes and gloss oils for paints.RELATED QUOTESLERLeaf Resources$0.1100.001 year1 dayDec 20Mar 21Jul 210.0250.0750.125Updated: Jul 13, 2021 – 1.43pm. Data is 20 mins delayed.View LER related articles Terpene is used in the formulation of food flavouring essences, disinfectants, health products and perfumes.Leaf sources wood from certified forests and only uses natural elements such as water, steam and heat to extract pine chemicals.In the year-to-date the small cap’s shares have surged 175 per cent from only 4¢ to 11¢.
LER Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
