Cell Aquaculture prepares for US capital raising

Hamilton Hill-based barramundi producer Cell Aquaculture Ltd has appointed New York-based investment banking firm TerraNova Capital Partners, Inc for US financial advisory and capital raising services, the company has announced.

The full text of a company announcement is pasted below

25th September 2007: Global fish farming company Cell Aquaculture Limited (ASX:CAQ) has appointed New York-based investment banking firm TerraNova Capital Partners, Inc. for US financial advisory and capital raising services.

TerraNova Capital specializes in financial services to emerging growth companies that are commercializing breakthrough technologies. Its Public Capital Markets team has an excellent and well-referenced track record for leading numerous equity placements via a global base of institutional investors. For its clients, investments are placed through European American Equities, Ltd., TerraNova's licensed broker-dealer and member of the FINRA.

"Cell Aquaculture has developed a unique capability to raise barramundi and other premium fish species using dry land-based proprietary equipment and technology in a highly controlled environment. Their "hatch to dispatch" approach to fish farming is expected to result in higher yields and financial margins, and consistent quality and availability, which are of great importance to commercial customers," commented Mr. Andre Schwegler, Managing Director of TerraNova's Public Capital Markets group.

"TerraNova has been recommended because of its well-built relationships with US & global investors and the firm's access to large institutional investors. We will strengthen Cell's balance sheet and increase our overseas shareholder base as we rapidly build this business," said Mr Paul Hopper, the San Diego based executive chairman of Cell Aquaculture.