Seems positive...Citrofresh International...

Seems positive...

Citrofresh International Ltd
Citrofresh®
International Ltd
Citrofresh® - The only natural choice.
Citrofresh International Ltd. ABN: 76 064 551 426 Sanitising The World For Your Protection
8 Rodney Road, North Geelong,
Victoria 3215.
AUSTRALIA.
PH: 61 3 5272 3013
FAX: 61 3 5272 3144
Email: [email protected]
Website: www.citrofresh.com
28 April 2006
The Manager
Company Announcements Office
Australian Stock Exchange Ltd
4th Floor, 20 Bridge Street
SYDNEY NSW 2000
ASX RELEASE
CITROFRESH INTERNATIONAL LIMITED BUSINESS UPDATE (ASX code CTF)
Board and Management
Since the beginning of 2006 the Company has made a number of important appointments to its Board of Directors and management team. In February Peter Myers, previously Managing Director of Barrett Burston Malting & Co., Woolstock Australia and Bonlac Foods joined the Board of the Directors. In April the Company announced the appointment of Dr. Lesley MacLeod to the position of General Manager. Dr. MacLeod was previously Group Technical Services Director of ConAgra Malt Group, responsible for the co-ordination of all technical and R&D activities in Australia, Canada, USA and the UK. Dr. MacLeod’s knowledge and experience of crop-science is expected to accelerate the Company’s path to market in this area. Our specialist consultants continue to deal with the appropriate regulatory bodies to facilitate the necessary approvals for Citrofresh in agricultural markets.
ECCMID Conference
In healthcare developments, the Company recently attended the 16th annual European Congress of Clinical Microbiology and Infectious Diseases (ECCMID) where the Managing Director and a representative of the Australian Rickettsial Reference Laboratory (ARRL) presented data on the “disinfectant virucidal capabilities” of Citrofresh. The ECCMID is one of the largest congresses in clinical microbiology and infectious diseases in the world and this year had over 7,000 attendees from the medical community. The Company is currently preparing a number of submissions to regulatory bodies in different jurisdictions with respect to having Citrofresh approved as a disinfectant with specific virucidal claims. Further details will be released when this becomes material.
China Expansion
As previously announced the Company recently opened a subsidiary office in Shanghai, China and has entered into agreements with local agents for placement of product into the Chinese market. Citrofresh Shanghai has received strong interest for its disinfectant product range from potential customers in the hospital and hospitality industries. The Company expects to be selling in this jurisdiction once regulatory approvals are finalised.
Citrofresh International Ltd. ABN: 76 064 551 426 Sanitising The World For Your Protection
Healthcare Distribution
The Company continues to progress significant international sales opportunities. At its half year results, the Company announced it was at an advanced stage of negotiations with an international healthcare company for the marketing and distribution of a number of its products which would significantly increase its sales. Negotiations have progressed positively since this point and the Company is hopeful of finalising the relationship in the near term. The Company has also entered discussions with a number of international cosmetic manufacturers about the potential to provide them with an organic and natural preservative.
Acquisition of Citrofresh Intellectual Property
Citrofresh International Ltd currently holds the exclusive marketing and distribution rights to the Citrofresh range of products. The Company is continuing its discussions for the possible acquisition of the intellectual property, trademarks and manufacturing plant and equipment from the manufacturer of Citrofresh products. These discussions remain in negotiation and the market will be further updated accordingly.
Capital Raising
On the 6th April the Company raised $600,000 (before issue costs) through a placement to sophisticated investors to increase cash reserves to fund working capital, accelerate its regulatory approval process and cement key relationships with its development and distribution partners.
Summary
The Company has had many prospects in the pipeline and has concentrated its efforts to specific sectors of the market to improve definite sales opportunities throughout the year.
FOR FURTHER ENQUIRIES
Ravi Narain
Managing Director & Chief Executive Officer
(03) 5272 3013