Seadragon rejected Blackmores investment in favour of tapping shareholders

Thu, 03 Sep 2015

By Suze Metherell Sept. 3 (BusinessDesk) - SeaDragon, the fish oil refiner aiming to raise up to $9 million from shareholders to fund the escalating cost of an Omega-3 factory, says it turned down an investment offer from Australian health supplement company Blackmores because it came with uneconomic conditions. Colin Groves, chairman of the Nelson-based refiner, made the comments during a roadshow for the renounceable rights issue, which would help cover costs for building the new factory that have blown out to $12.2 million from the ori...

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