Nanoveu Ltd (ASX:NVU) has executed its second share subscription under a placement agreement with Antiviral Technologies Portfolio LLC.
A $600,000 subscription for shares has been made with a value of $658,000. The proceeds will be used for general corporate and working capital purposes.
Antiviral products
Nanoveu is a developing a range of antiviral products for mobile phones and other digital displays and the placement represents prudent capital management, firming up the company’s balance sheet during a period of buoyancy in financial markets.
This ensures the company is able to fully focus on securing further international distribution agreements for its antiviral products, as well as conducting further development of the EyeFyx prototype.
The flagship product is its Nanoshield antiviral protection which is available in a variety of mobile phone screen covers, mobile phone cases and as a commercial film capable of being applied to a number of surfaces.