Cardia Bioplastics to increase cash reserves

Friday, December 21, 2012 by John Phillips

Cardia Bioplastics (ASX: CNN) has been granted a trading halt by the ASX this morning and placed in pre-open, pending capital raising details.

Cardia had some good news earlier in the week, and announced a partnership with the University of Sydney - along with Australian Research Council funding for CO2 polymer catalyst development.

The partnership is aiming to develop a breakthrough in biodegradable technology using CO2.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 27th December 2012.

 

 

http://www.proactiveinvestors.com.au/companies/news/37626/cardia-bioplastics-to-increase-cash-reserves-37626.html