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Blis Technologies Limited (NZX: BLT) Major Growth Partnership with Probi

Wednesday 7th July 2021

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Blis Technologies Limited today announced the formation of a long term strategic partnership with Probi AB (PROB.STOE), a global company based in Sweden, expected to deliver significant growth opportunities for Blis.

Key terms

• Establishment of a licence and supply agreement under which Blis has granted Probi rights to manufacture and sell BLIS K12 and BLIS M18, leveraging their established global customer base.

• Cash issue of $9.18m of new shares to Probi resulting in a 13% strategic shareholding (post issue), and providing the company with capital to support Blis’ revenue growth initiatives.

• Collaboration in R&D to leverage joint strengths in probiotic innovation to build product innovation pipeline.

• Appointment of the Probi CEO to the Blis board, post 2021 annual meeting of shareholders.

Transaction overview

Blis has agreed to enter into a long-term strategic partnership with Nasdaq Stockholm-listed Probi, a global leader in probiotic innovation with strong presence in Europe and USA and growing presence across Asia Pacific.

Blis Chairman Tony Offen said “This is an exciting opportunity for our company and a significant endorsement of Blis. Probi provides extensive international industry experience and relationships, which will drive collaboration opportunities and revenue growth.”

Tom Rönnlund, CEO of Probi says “This is a compelling business partnership for Probi, since Blis is an innovative, science-led company with leading market share in probiotic oral health. Through this partnership, we will broaden our portfolio and strengthen our position as leaders in the use of clinically documented bacterial strains. Beyond immediate commercial opportunities, this strategic partnership also includes research collaboration to leverage off each other’s strengths”.

$9.18m will be raised from the placement of shares at a price that is a 5% discount to the VWAP for the 20 trading days to 5 July 2021. Settlement is expected by 8 July 2021.

Please see the link below for details

Major growth partnership with leading global probiotics company Probi

Source: Blis Technologies Limited

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