In April 2018 Tellus Matrix was to engaged to support Family Zone’s global commercialisation and after extensive due diligence, has agreed to invest and underwrite a placement with their global partners.
This placement is for 10 million shares at 50 cents each.
The deal saw Family Zone’s shares rise 10% to an intra-day high of 52 cents.
Family Zone managing director Tim Levy said: “We are delighted that Tellus Matrix has agreed to this investment and to support our company moving forward.”
Tellus Matrix is impressed with the social benefits, commercial opportunities and investment potential of Family Zone.
It also believes it can contribute to Family Zone’s global ambitions.
Funds will support service delivery
Funds raised will be used to support investment in Family Zone’s service delivery capability, business development activities, particularly in education and global partnerships, and further strengthen the company’s balance sheet.
The Tellus Matrix mandate is to work exclusively with innovative companies possessing world-changing technology.
Sir Peter Westmacott appointed to board
Family Zone also welcomes to its board distinguished senior British diplomat Sir Peter Westmacott GCMG LVO.
Sir Peter has been British Ambassador to Turkey, France and the USA.
Levy said: “We are also honoured that a gentleman of the calibre, wealth of knowledge and global networks of Sir Peter Westmacott has agreed to join our board.
“This moment marks a turning point for the company as Family Zone transitions to a global focus and attracts strategic investors in the key markets of USA and UK.”