Metal Storm: Down but not out
Just after Metal Storm share trading was halted by the ASX, the company announced they have secured funding from a UK investment group …
Metal Storm Limited is pleased to announce that it has entered into an agreement in relation to an A$20.2 million equity line of credit (LOC) facility from UK-based investment fund Global Emerging Markets (GEM) Global Yield Fund to provide funds for the commercialisation of Metal Storm’s core defence technology products.
[ Many thanks to Daniel E. Watters for sending me the info. ]
I founded TFB in 2007 and over 10 years worked tirelessly, with the help of my team, to build it up into the largest gun blog online. I retired as Editor in Chief in 2017. During my decade at TFB I was fortunate to work with the most amazing talented writers and genuinely good people!
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Anyone that actually put money into that turkey had best get what they can before the principals disappear.
Well, someone just made some money off of them:
"Quick and tidy turnaround for Metal Storm investor"
http://www.smh.com.au/busin...