Stirling in halt over acquisition deal

Shares in Stirling Products have been placed in a trading halt pending the announcement of a significant acquisition.

The company expects to make an announcement by the start of trade on Wednesday.

Shares last traded at 0.8 cents.

Last month the Perth-based biotechnology company elected three new board members after the then current board decided to step down in its entirety.

It follows the receipt of a financial lifeline by Alpha Securities, which contributed $1.76 million towards Stirling, and the termination of two deals to streamline its focus.
The company currently holds onto the ProVale product which has potential to generate significant revenue, Stirling previously said.