logo-loader

XTEK secures $2.72 million after completing share placement

Published: 18:42 24 Jul 2019 EDT

M&A concept
The issue price of the placement and SPP is 45 cents

XTEK Ltd (ASX:XTE) has completed the major component of its capital raising to fund the acquisition of Ohio-based body armour and protective equipment company, HighCom Armor Solutions, Inc.

The acquisition of HighCom supports XTEK’s strategy to commercialise its high-performance ballistic protection products, by accelerating XTclave™ based products’ entry into key target markets in the US.

XTclave™ is a patented manufacturing technology that can produce the world’s lightest and strongest body armour.

XTEK is commercialising its XTclave™ technology through the production of armour products including ballistic plates and helmets that incorporate the technology.

READ: XTEK reveals transformational US acquisition; aims to become leading ballistic armour player

Rush Rare Metals Advances Two Key Projects: Uranium in Wyoming and Niobium...

Rush Rare Metals CEO Peter Smith joined Steve Darling from Proactive to share news about the mineral exploration company's focus on its Boxi Property in Quebec and the Copper Mountain Project in Wyoming. The company recently announced the staking of the Knob claims in Wyoming, comprising 52...

9 minutes ago