Seadragon draws down remaining $1M of Comvita loan, narrows first-half loss

Wed, 29 Nov 2017

By Jonathan Underhill Nov. 29 (BusinessDesk) - Seadragon is drawing down the remaining $1 million of its convertible loan facility from shareholder Comvita to boost working capital, saying it has enough funds to grow provided it meets sales targets. The fish oil refiner reported a loss of $2.7 million in the six months ended Sept. 30, down from a loss of $3.5 million a year earlier, the Nelson-based company said in a statement. Sales halved to $1.5 million, which the company said reflected its transition to Omega-3 fish oils from its "leg...

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