The Company has entered into a binding share sale agreement with Keyhole TIG Limited (K-TIG) and its majority vendors on 29 April 2019, whereby the Company has agreed to acquire 100% of the fully paid issued capital of K-TIG (Acquisition).

K-TIG has developed disruptive welding technology that seeks to change the economics of fabrication. The K-TIG welding system is provided as a fully integrated welding cell comprised of the K-TIG 1000 controller, torch, power supply, water cooler, wire feeder, torch mount with compensating slide, travel speed feedback encoder and all related software within the controller (K-TIG System). The K-TIG System has been exported to customers in 20 countries, with blue-chip customers including GE, Siemens, Nuclear Advanced Manufacturing Research Centre, Titan and Tricor.

Completion of the Acquisition requires the Company to re-comply with Chapters 1 and 2 of the ASX Listing Rules.

To learn more about K-TIG, please visit http://www.k-tig.com/


The Replacement Prospectus invites investors to apply for up to $7,000,000 (before costs) through an issue of up to 35,000,000 shares, at a price of $0.20 per share.

The Shares to be issued pursuant to the Public Offer are of the same class and will rank equally with the existing Shares on issue. The rights and liabilities attaching to the Shares are further described in Section 11.1 of the Prospectus.

Applications for Shares under the Public Offer must be made on the Public Offer Application Form accompanying this Replacement Prospectus and received by the Company on or before the Closing Date.