- Tekcapital said Belluscura Ltd has concluded an oversubscribed private placement to raise about $675,000.

The Company announced on 17 June 2016 that it planned to extend its fundraising round and this Private Placement has been concluded on similar terms, giving Belluscura a post-money valuation of $5,250,000.

Tekcapital now owns about 65% of the share capital of Belluscura.

In line with the previous fundraising (announced on 17 June 2016) the proceeds of the Private Placement are intended to be applied as follows: - regulatory, safety and quality expenses for medical products, including CE Marking and certification for European sales;

- implementing product manufacturing and acquiring initial stock;

- acquisition of additional medical products; and

- working capital purposes.

Story provided by