SeaDragon gets $2.5M loan from cornerstone shareholder to help fund refinery

Tue, 23 Jun 2015

By Tina Morrison June 24 (BusinessDesk) - SeaDragon, which manufactures fish oil for health supplements, has secured a $2.5 million loan from a cornerstone shareholder to help fund the development of its new Omega-3 fish oil refinery in Nelson. BioScience Managers, which owns 22 percent of SeaDragon, has agreed to advance the company as much as $2.5 million in two tranches by Sept. 30, the Nelson-based company said in a statement. The loan will convert to equity as part of a planned future capital raising which will include a rights offer...

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