New Zealand Coastal Seafoods secures A$100,000 convertible note investment

New Zealand Coastal Seafoods Limited (NZS) announced today that its cornerstone investor, Ilwella Pty Ltd, has made an additional investment of A$100,000 through convertible note subscriptions. This capital injection is expected to strengthen the company's financial position and fast-track strategic initiatives. Ilwella Pty Ltd, a family office investment vehicle of Brian and Peggy Flannery, has a diversified investment strategy across hospitality, property development, agriculture, and natural resources.

The convertible notes, issued with a face value of A$1 per note, are convertible into ordinary fully paid shares at A$0.02 per share, subject to shareholder approval. The notes carry an interest rate of 12% per annum if not converted and have a maturity date 12 months from the issue date. The proceeds will provide additional working capital for ongoing operations and strategic initiatives.

This subscription highlights investor confidence in NZS's growth strategy and its dedication to sustainable and environmentally responsible fishing practices. The company, which operates through Nine Ocean Fishery Pty Ltd in Australia, is a processor, distributor, and exporter of premium seafood products, focusing on responsible sourcing and sustainable management.