15 December 2017
Early Equity PLC
(“Early Equity” or “the Company”)
Investment in TruSpine Technologies Limited and Farina Investments (UK) Limited
Early Equity is pleased to announce it has made the following investments:
TruSpine Technologies Limited
Early Equity has invested, by way of subscription, £60,000 in TruSpine Technologies Limited ("TruSpine") on a pre-new money valuation of £15m. Founded in December 2014, TruSpine secured intellectual property and subsequently developed the Faci-LOK and Cervi-FAS minimally invasive spine stabilisation devices, and the VOSC Catheter atherosclerosis treatment product 'VOSC Catheter'. This development is on-going and TruSpine is targeting FDA clearance and commercialisation of its first product, the Faci-LOK. FDA submission is expected by the end of Q4 2017. An AIM IPO is planned to take place following FDA approval, which is expected to be received in 2018. In the year ended 31 March 2016, TruSpine incurred a loss of £45,325.
Farina Investments (UK) Limited
Early Equity has invested, by way of subscription, £35,000 in Farina Investments (UK) Limited ("Farina") on a pre-new money valuation of £4m. Farina is a boutique corporate finance and asset management company which specialises in leveraging profit opportunity in the post-crisis financial landscape. Farina has been carefully structured and strategically placed to fully capitalise on these opportunities, thereby optimising capital growth, profitability and returns for both the company and investors. Farina is currently exploring various UK listing opportunities either via IPO or reverse takeover. In the year ended 31 July 2016, turnover was £1.9 million, net profit was £116,000 and assets under management were £1.8 million. Farina is not authorised and regulated by the Financial Conduct Authority.
Chua Siew Lian, Executive Director commented:
"We are very pleased to explore these opportunities that are in line with our investment strategy focused on early stage companies. Over the past months we have invested significantly in Malaysia and these investments demonstrate the diversity of the Company by sector and also geographically.
The Company continues to seek new opportunities.
The directors of Early Equity Plc accept responsibility for this announcement.
For further information please contact:
Tel: +44 7830 182501
NEX CORPORATE ADVISER:
Alexander David Securities Limited
David Scott –Corporate Finance
James Dewhurst – Institutional Sales
Telephone: +44 (0) 20 7448 9820
49 Queen Victoria Street, London EC4N 4SA