Leaf Resources (ASX: LER) Successful 2017 as they Raise $4.95 Million Through Share Placement

KEY TAKEAWAYS:

• Joint venture with Claeris benchmarking the FY2017 milestones.
• Raised $4.95 million through share placements.
• Successful negotiations with Malaysian authorities proceeding to current surveys of two steered locations.

Leaf Resources Limited (ASX: LER), the leading plant biomass specialists, shares its yearly report for the FY2017. The pivotal milestones namely the addition of the latest international elite strategic partners, board fortification along with chemical industry mastery and cognizance from the national authorities. Gaining significant acclaim from the government and chemical industry comrades concerning the Glyce transformation impacting limitless possibilities in the biochemical diversification all over the world.

Upon starting the FY2017 commencing the joint venture agreements with Claeris HoldCo LLC. Thus serving as a pivot accelerator for a year of agile advancements directing to the seamless vital and financial progression. The joint venture signed a sequence of arrangements with the Malaysian Government in developing at a minimum of one commercialised, biobased chemical manufacture plant applying the Leaf Glycell ™ system. As a result, an accumulation of corresponding premium allies, together with a collaborative agreement Novozymes (NZYMB: DC Market Cap A$18 billion), the leading international industrial enzyme source.

Consequently, Leaf Resources embarks itself in a strategic mark concentrating on its first economic foundry. Advancement stages include furthering the thriving quest in Malaysia. The potentiality of the Malaysian venture was highlighted in the National Investor Road Show commenced last July. Having met all criteria for establishing a venerated bio-based commerce focused on Leaf Glycell ™ 2G sugar manufacturing. Malaysia has a robust country-wide biomass strategy, equipped with accessible colossal biomass resources and full legislative support prompting optimum biomass investments in the country. Intercessional agreements produced two prospective stations, Johor and Sarawak, to give pecuniary dawn for biomass market in accordance with federal state finance incentive groundwork. The company is presently conducting thorough evaluations of the two sites accordingly.

Fundraising for the FY2017 demonstrated substantial advocate from new and existing investors having raised share placements of  $4.95 million. Moreover, Leaf raised $1.65 million via an entitlements issue ended last August 3, 2017, with receipt of extra placements of $512,479 last October from the R&D tax incentive and after gaining approval of the Advance Finding for Leaf Biofuel Development Program producing $79,486 in January. Additionally, the Export Market Development Grant resulted in two rounds of funding worth $199,579 in a full swing.

Key positions in the Leaf Board entailed supplementary dexterity measures by appointing two new Non-Executive Directors. Starting last November 2016 with Mr Doug Rathbone, pioneer chemical engineer and NuFarm Limited CEO for sixteen years, and onboarding last June 2017 – Mr Bill Baum, a famous leader in the renewable and biochemical industry.

With the rise of the roaring biobased chemical market, Leaf adheres to its core commitment in providing abundantly for the world’s greener, biobased economy. Further culmination of the company’s advancement driving growth, expansion of market opportunities and anticipated project flow geared up for the current engagements extensively.

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