27 Nov 2013

Sea Dragon to build new fish oil refinery

12:27 pm on 27 November 2013

Sea Dragon, a fish oil maker in Nelson, has raised $2 million through a placement to professional investors to help finance the building of a new refinery near Richmond.

Chairman Doug Wilson said the funds raised plus $1.8 million the company got from selling its shares in Snakk Media give it enough money to proceed with the new refinery which will produce Omega-3 rich oil.

The company also plans a share purchase plan for retail shareholders who will be offered the chance to buy up to $15,000 worth of new shares each.