Funding was led by Avrio Ventures. Kirchner Investment Management Corporation is a general partner of Avrio Ventures.
Toronto, Ontario – 12 July 2007 – Siamons International Inc., the maker of Concrobium Mold Control(R), announced today that, as of June 28 2007, the company has closed a private placement of Preferred Shares led by Avrio Ventures Limited Partnership (“Avrio Ventures”).
Based on Siamons’ patented, antimicrobial polymer technology, Concrobium Mold Control is the world’s first and only 100% natural product that eliminates and prevents mold with no harmful chemicals.
Proceeds from the financing will be used to accelerate the company’s global expansion strategy in both retail and professional channels, and to support its ‘built in’ program for manufacturers seeking to incorporate Concrobium Mold Control into their products for mold-resistance. Siamons products are currently sold in many retail outlets including The Home Depot(R), Lowe’s(R), Ace Hardware(R), RONA and Home Hardware.
According to Siamons Chief Executive Officer Brian Bacik, “The market response to Concrobium Mold Control has been exceptional. This additional capital will be used to firmly establish Concrobium Mold Control as the solution of choice for both homeowners and building professionals battling mold. We are very excited to have Avrio Ventures as a partner and look forward to leveraging their expertise and network of global contacts in the industrial bioproducts sector.”
Jim Taylor, one of the partners at Avrio Ventures, commented “Our investment in Siamons gives us a unique opportunity to participate in the rapidly growing Indoor Air Quality (IAQ) marketplace. We’re excited to work with an experienced management team in order to capitalize on the significant market potential for Concrobium and to expand the number of applications available to this new and innovative antimicrobial polymer.”
About Siamons International:
Siamons International Inc. manufactures and markets Concrobium Mold Control, a breakthrough, 100% natural antimicrobial product that eliminates and prevents mold. The product is based on a patented, non-toxic chemical which is adaptable to multiple other consumer, industrial and healthcare applications. The company sells its products globally through both retail and professional channels. www.concrobium.com
About Avrio Ventures:
Avrio Ventures is a venture capital firm that supports the development of Canadian commercialization and growth stage industrial bioproducts, nutraceutical ingredients and food technology companies into world-class organizations.
www.avrioventures.com
For further information, media may contact:
Mr. Brad Elder, Director of Marketing
Siamons International Inc.
36 Meteor Drive, Toronto,
Ontario, Canada M9W 1A4
Tel: (416)213-0219 x222
belder@siamons.com
or
Mr. Jim Taylor, Partner
Avrio Ventures
(403)215-5490
jtaylor@avrioventures.com