Company Update
Rapid and exciting developments in many areas of the SeaStock business have been increasing our profile across industry and the investment community.
Last week, it was announced that one of the world's most acclaimed commercialisation accelerators the Founders Factory Nature Tech Accelerator (Founders Factory) had kicked off in WA and that SeaStock has been chosen as an inaugural participant in this program.
The global tech investor already runs programs in cities including London, Milan, Berlin, Johannesburg and New York, and has backed more than 300 companies around the world. Founders Factory now comes to Western Australia, backed by WA Government investment.
Under the Founders Factory program, SeaStock will receive $50,000 in funding support and MD Tom Puddy will be involved in a four-month intensive support program and receive wraparound, bespoke support.
Another sign of SeaStock’s increased profile was the visit of the Federal Minister for Industry and Science Ed Husic to our Fremantle headquarters to tour our land-based production facility. The visit included an announcement that we had received a $136,000 grant through the federal government’s Industry Growth Program.
Recent Investor interest has centred around SeaStock’s transition from a startup research entity to a Company with achievable growth and revenue aspirations, as well as the opportunity for investors to be involved in what has the potential to become an entirely new industry not only in WA but in Australia. The combination of these two factors offers a unique value proposition being recognised by investors.
SeaStock’s unique dual extraction process is driving the Company to become a potential multi-revenue stream business. Worldwide interest in our naturally derived pharmaceutical grade red pigment from commercial partners across a wide range of industries, including pharmaceuticals, food and beverage and cosmetics has been significant and is ongoing.
This interest in the pigment is in addition to interest and demand that continues to be received for our best-in-class Bromoform oil concentrate for livestock methane reduction, and where we have achieved our first commercial sale.
Funding 2025
Under the supervision of Managing Director Tom Puddy and the hard work of the entire team, SeaStock has achieved and passed significant milestones with what could be considered to be very limited funding. The entire group has been acutely aware of the need to act responsibly with available capital and the need to be successful in the pursuit of non-dilutionary sources of funding to effectively progress the business.
SeaStock continues to be approached by many external investors (both individuals and groups) wanting to participate in the next capital raising event. We view this as an excellent validation of the SeaStock business and its trajectory.
This interest has increased recently and as our initial extended funding round ($2.1m) has now been completed, the Directors have determined it appropriate to secure further working capital to allow SeaStock to build on its strong fundamentals and recent success.
A placement of 2,000,000 (2 million) shares at $0.50 per share to raise an additional $1,000,000 (one million) dollars is now underway. A quarter of the shares available have already been placed.
Priority for the remaining allocation will be given to existing shareholders.
Funds raised from the two offers, coupled with recent government grant allocations, will allow the Company to accelerate the achievement of its business growth milestones.
If you are interested in furthering your investment in SeaStock, I would encourage you to contact the Company for information or apply ASAP.
