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Q-Vis back to retread the board

Laser-eye developer Q-Vis is due to re-list on the Australian Stock Exchange this week following completion of a $2.4 million capital raising.

The capital raising at 0.8 cents per share was partly underwritten by Paterson Ord Minnett and facilitated by Ascent Capital, a specialist in the reconstruction and recapitalisation of listed companies.

 

Chairman David Steinepreis said the company had established a joint venture with Paul Van Saarloos and Simon Gordon to evaluate Q-Vis’ intellectual property for future development and possible commercialisation.

Dr Van Starloos and Mr Gordon are former senior executives of the company who subsequently established Balcatta-based CustomVis, which has developed complementary technology.

The two men will hold a 51 per cent stake in the joint venture and CustomVis has an option to acquire that stake.

Q-Vis originally listed on the ASX in July 2000 and was suspended in December 2002 following ongoing losses.

 

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