zbb is oversold - yanks are paying 30cents from announcement of jan 5th yanks are paying 30cents. will try and get some at 20cents this morning. is oversold as company has a great product and growing in demand especially in china where blackouts occur regularly
ZBB to invest in battery technology; US capital raising
13:57, Thursday, January 05, 2006
Sydney - Thursday - January 5: (RWE Australian Business News) -
ZBB Energy Corporation (ASX code: ZBB) has finalised an agreement with
Wharton Equity Partners LLC and Wharton Energy Partners 1 LLC for the
acquisition by ZBB of Wharton's investment in Idea One Inc, a US and
Israel based company developing a magnesium cell battery.
ZBB has also entered a series of agreements with parties in the
United States that involves an application to US Securities Exchange
Commission for the registration of ZBB's stock in the US; an application
to the US National Association of Securities Dealers Inc for approval to
list ZBB stock on the NASD Over-the-Counter Bulletin Board; the
engagement of corporate advisors to ZBB and the engagement of Empire
Financial Group Inc as placement agent for the issue of a $US1.5 million
convertible promissory note and the raising of between $US6 million and
$US12 million through the issue of ordinary shares to clients of Empire.
The company also intends (subject to completion of such
financings) to consummate a reverse stock split, by which every eight
shares will be consolidated into one share.
The capital raising would be at an anticipated price of $US2 a
share post reverse stock split.
ZBB CHESS Depositary Interests today rose 13.5c to 37c.
ZBB
zbb energy corporation
