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Technology entrepreneur Nathan Buzza.

Naracoota in $12.4m backdoor listing

Naracoota Resources has announced plans to exit mining and enter the tech sphere through the reverse takeover of health informatics company Alcidion Corporation, backed by Perth technology entrepreneur Nathan Buzza, in a deal worth $12.4 million.

Naracoota will offer 400 million of its shares at 3.1 cents each to acquire the South Australia-based business, and will also issue a number of share rights, subject to Alcidion meeting certain revenue milestones.

Mr Buzza was the 2003 Business News 40under40 First Amongst Equals award winner.

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Share Transactions

30/09/15
$0 Other
26/02/15
$261k Sold
26/02/15
$141k Bought
Total value as at the date of the transaction
Source: Morningstar

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