IamFire Plc (LON: FIRE) Completes Significant Investments in WeShop & Bio2pure - Kalkine Media

Summary

• IamFire Plc is an investment issuer listed on the AQSE Growth Market Exchange with the ticker, AQSE: FIRE.
• IamFire Plc focuses on identifying opportunities in technology, life sciences, and natural resources.
• Two recently concluded investments by IamFire include a £4,500,000 Convertible Loan Agreement in WeShop Limited, a social commerce platform and the acquisition of a 10% interest in Bio2Pure Limited, a biotechnology company specialising in water remediation.

The two core investment divisions and approach at IamFire

The company has streamlined its investment remit through the creation of two divisions that represent the nature of opportunities IamFire are pursuing.

High growth division (HG Division): In the high growth segment, IamFire concentrates on investing in enterprises that have reached a notable point in their growth journey when they need to secure specialised capital investment, trade sales, or public market exits. As part of its investment approach, IamFire is on a hunt for global opportunities, eyeing the companies with a strong balance sheet, promising growth profile and management team that have an approach of unhindered operations. 

Asset augmentation division (AA Division): This division of IamFire has been structured to focus on distressed asset situations. The aim of this strategy is that the company could potentially expand through a broad restructuring and re-capitalisation and by introducing management and directors. 

Ramping up the growth path with two major investments

WeShop On the 27^th August 2020, IamFire announced that it participated £4,500,000 in a £9,000,000 CLA (Convertible Loan Agreement) with WeShop. IamFire raised £5,509,039.48 by way of a discounted capital bond, in order to proceed with the terms of the CLA.

In addition to the CLA, IamFire plc secured an Exclusive Subscription Agreement to acquire a 10% interest in WeShop, at the cost of, £2,775,308.48.

Chief Executive Officer, Burns Singh Tennet-Bhohi commented,  

WeShop has built a product that reinforces the syndication of social networks and e-commerce. This is a theme that is practiced by social networks, but one where no one have quite captured the true identity. The very ethos of WeShop since foundation has been to combine social networks and e-commerce to build a brand, trusted network & marketplace that characterizes this critical theme in the modern world.

IamFire plc has studied this identity and its perceived demand in the global marketplace and strongly believe that it has a global presence as a brand and is an application that the consumer will rely on and steadily engage. As per the management-

Completion of 10 per cent stake in Bio2pure Limited: 

Bio2pure is a UK based biotechnology company with its manufacturing and R&D facilities located in the North West of England.  Its core technology is an advanced bioremediation solution which has several applications containing cleaning large and small bodies of water (lakes and ponds), boosting effectiveness in wastewater and sewage treatment plants, land remediation and unblocking sewage drains.  To date, the technology has successfully treated over 1 trillion litres of water.

Consequent to the COVID-19 pandemic, the company is also researching the prospects of using some of its partners’ technology to tackle the current risks instigated by enveloped viruses containing COVID-19 for the retail, industrial as well as medical markets.

Mr John Leat, an international businessman with over 40 years of experience as a major project manager, investor and delegate, earlier for Sheikh Mohammed bin Rashid Al Maktoum, heads the company.  The science and technology have been pioneered by Dr Anthony Davies, who has worked in the field of biological treatments and processes throughout his career.

After a period of due diligence, IamFire plc acquired a 10% interest in Bio2pure and subsequently entered an Exclusive Subscription Agreement to acquire a further 10% of the company through a subscription for new ordinary shares that could value Bio2pure as high as, £30,000,000. IamFire plc acquired its initial 10% interest in a transaction that valued Bio2pure at, £8,000,000.

The experienced Management team at the helm of IamFire Plc

Burns Singh Tennent-Bhohi: Chief Executive Officer

Marc T Bamber: Non-Executive Chairman

Jeremy Ross: Non-Executive Director

Stock Price performance at AQSE Stock Exchange

IamFire Plc (AQSE: FIRE) stocks were last reported at GBX 13.00 on 23^rd November 2020 on the AQSE Growth Market. The market cap of the company stood at £4.5 million.

Contact Details & Website

[email protected]

website: https://iamfireplc.com

Office Line: +44 (0) 20 3778 0755