Archer raises funds for Advanced Materials Business

By Trevor Hoey. Published at Nov 29, 2019, in Technology

Archer Materials Limited (ASX:AXE) has informed the market that it will close its Share Purchase Plan (SPP) on Friday, December 6, 2019 at 5 PM eastern daylight saving time.

The SPP aims to raise $3 million and if total demand for the SPP exceeds that amount the Archer board reserves the right to close the SPP early and scale back applications or elect to increase the amount raised under the SPP.

The proceeds raised from the SPP will provide Archer with the funding required to progress the company’s Advanced Materials Business, in particular the development of the room temperature quantum computer chip, as well as exploration of the company’s tenements.

By way of background, Archer provides shareholders exposure to financial returns from innovative technologies and the materials that underpin them.

The company’s strategy is to build an industry-leading materials technology company that delivers maximum value to shareholders through the commercialisation of assets at various stages of the materials lifecycle.

Archer has strong intellectual property, broad-scope mineral tenements, world-class in-house expertise, a diverse advanced materials inventory, and access to over $300 million of research and development infrastructure.

Ready for full patent application

Most recently the company announced that it had progressed its graphene-based biosensor technology development by building a first-phase prototype device to test the printing and performance of graphene inks produced from the inventory of Carbon Allotropes (graphene inks).

As Finfeed noted earlier in the week, this was a key development milestone towards commercially exploiting the intellectual property underpinning the graphene-based biosensor technology.

The company is now positioned to lodge a full patent application that would give Archer’s exclusive rights to commercially benefit from the intellectual property.

Management noted at the time that the materials and processes used to build the prototypes are not prohibitively expensive which is extremely important in the printable biosensor market.

Archer’s progress in 2019 hasn’t gone unnoticed, particularly over the last six months during which time its shares have soared 70%.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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