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EcoQuest, Share Placement Negotiations re Cynata Inc

The Board of Eco Quest Limited (ASX:ECQ), a company focused on environmental and life sciences technology businesses, is pleased to advise that the Company has commenced negotiations to make a further investment in Cynata Inc via the subscription for 12,500,000 shares in Cynata Inc at $0.04 per share, which is equivalent to 18% of the issued capital of Cynata Inc.

The proposed investment in Cynata Inc is consistent with the Eco Quest’s strategy to increase shareholder value by extending the Company’s portfolio of biological technology and follows the recent announcement of negotiations to licence its biodegradable hygiene technologies, on a net profit royalty basis, in the Asia Pacific Region.

Eco Quest continues to explore opportunities to execute further net profit agreements on its biodegradable hygiene technology in other regions on similar terms. In addition, the Company continues to explore further opportunities to expand its technology portfolio, primarily in life sciences.

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