SeaDragon shares drop after raising $2 mln to help fund new fish oil factory

Tue, 26 Nov 2013

By Tina Morrison Nov. 27 (BusinessDesk) – Shares in SeaDragon, which manufactures fish oils for health supplements, dropped 39 percent after the company sold shares at a discount to raise capital for a new $4 million factory near Richmond. Shares in SeaDragon dropped 1.4 cents to 2.2 cents. After the market closed yesterday, the Auckland-based company agreed to issue 125 million new shares at 1.6 cents apiece, raising $2 million. The funds, combined with $1.8 million from the sale of a stake in Snakk Media will enable the company to proceed...

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