The founder directors of Rainmaker are Alex Hamer of the Ashbeck Group of Companies and Martin Benson of Kirkstyles Innovation Group Limited.
It is intended that, following the exercise of the first option Cientifica chief executive Tim Harper will be appointed to the board of Rainmaker. The directors of Cientifica understand that the board of Rainmaker will be strengthened by the appointment of additional, suitably qualified personnel in the near future. Under the terms of the option agreement, Cientifica has been granted three options under which it may subscribe for Rainmaker ordinary shares which would amount to 49.9% of the enlarged issued share capital of Rainmaker if all three options were exercised in full.
Harper said: “I believe that this is an opportunity for Cientifica to rapidly expand its interests in the graphene market and that the collaboration will allow us to bring a range of products, utilising the advanced material, to the market in the short to medium term. “The intellectual property expected to be created within Rainmaker and the prospect of faster access to major global markets makes this a truly exciting relationship, from which Cientifica can derive significant benefit.”
Story provided by StockMarketWire.com