Sealegs Issues New Capital for Australian Expansion
05 September 2006
5 September 06
Sealegs Issues New Capital for Australian Expansion
Sealegs Corporation today announced that it has raised NZ$592,000 new capital through the issue of 3,761,407 new shares to some professional investors.
The lead investor is Australian based Will Burrell, who has bought 2 million new shares. Mr Burrell will also become Sealegs’ Director of Australian Operations, effective 5th September 2006.
Will Burrell is an English born entrepreneur who bought, developed and recently sold the multi award winning 1 million acre El Questro Wilderness Park in Northern Australia.
He said, “I originally purchased a Sealegs craft for El Questro’s commercial barramundi guiding operations on Australia’s northern rivers. Subsequently I have used my Sealegs amphibious boat throughout Australia; from the sandy beaches of Queensland’s Islands to some of Victoria’s more inhospitable coastline. I was so impressed with Sealegs’ performance, I realized that I would very much like to be part of the company’s future development.
“I believe the applications in Australia and worldwide for Sealegs are tremendous, and look forward to taking the business in Australia forward and working with the team at Sealegs Corporation.”
Will Burrell was the Western Australian Young Achiever of the Year in 1994 and was appointed a Member of the Order of Australia this year for services to tourism and regional development in Northern Australia.
The funds raised in this issue will primarily be used towards expanding Sealegs Australian sales and marketing, which will be greatly assisted by Will Burrell’s Australian business, marketing and tourism expertise.
