Corporate Update for Market
Perth, May 6, 2016 AEST (ABN Newswire) - Strategic Elements (
ASX:SOR) is pleased to provide a Corporate Update for shareholders and market participants.
Nanocube Memory
Memory is at the heart of electronics and the Nanocube Memory Ink is a revolutionary technology addressing a large global Printed Electronics market. The Company and team based at the University of New South Wales have been extremely successful in fast tracking the Nanocube Memory Ink technology since development programs commenced less than 10 months ago.
As previously announced, the Company has assessed different prototype fabrication options for the Nanocube Memory technology and the University of New South Wales team successfully optimised a number of prototype fabrication parameters. The Company is continuing to determine the impact of different materials, device configurations and fabrication methods and will communicate results as soon as appropriate.
Success in innovative new sectors such as Printed Electronics requires partnership. Going forward, a priority focus of the Company will be on development and other activities related to partnering.
Capital Raising
Despite receiving approaches from domestic and overseas potential investors over the past 12 months, the board made the decision not to make a placement of shares. The Company decided instead to provide an opportunity to its own shareholders first under a share plan. Eligible shareholders will be mailed their documents on May 10th, 2016 and have the opportunity to acquire further shares in the Company prior to the next phase of potential developments in the Nanocube Memory technology and other projects.
SOR acknowledges many Australian shareholders support the Company due to its registration as a Pooled Development Fund by the Federal Government and the requirement for it to back innovative Australian companies. The significant tax benefits provided under the tax act to domestic and overseas investors work to assist Pooled Development Funds stimulate investment in Australian SME's.
Expansion
Multi-billion-dollar semiconductor fabrication plants (required by silicon based electronics) are not required to manufacture printed electronics that use traditional printing processes. Printed Electronics is one of the fastest growing technologies in the world. It is of vital interest to industries as diverse as consumer goods, healthcare, construction, electronics, media and transit. It is allowing electronics to be used in places it has never been before and it is improving existing electronics. Printed Electronics is forecast to be a USD 73 Billion market by 2023.
SOR is the only ASX listed Company actively developing technology focused on this market in which there is a very limited number of start-ups. However, Australia has significant existing research institution expertise in materials science and engineering, which could be recruited to target the Printed and Flexible Electronics sector.
In Australia, the Company has a real opportunity to leverage a first mover advantage. SOR is establishing a Printed Electronics advisory panel to assist it with Printed and Flexible Electronics industry sector development in Australia and technology acquisition opportunities.
Other Assets
Investors have enquired as to the Company's intentions with the high-grade gold asset held within 100% owned Strategic Materials Pty Ltd (SML). Whether SOR proportionally distributes the shares it holds in SML directly to SOR shareholders (for free) or seeks a 3rd party joint venture, it is intended that the Company or its shareholders will retain control.
About Strategic Elements Ltd
Strategic Elements (ASX:SOR) shares are listed on the Australian Stock Exchange under the code “SOR”. The Company is registered under the Pooled Development Program run by the Australian Federal Government to encourage investment into SME’s. To assist Pooled Development Fund’s to invest and raise capital, the Federal Government enables most shareholders in a Pooled Development Fund to make capital gains and receive dividends tax-free.
| ||
|
