Nanoveu: Signs MoU to establish JV in India

Nanoveu Signs MoU to establish JV in India

• Nanoveu (NVU) signs a memorandum of understanding (MoU) with Alan Scott Industries to establish a new joint venture (JV) company called Alan Scott Nano veu India
• The new JV will have paid capital of US$200,000 (A$290,214) and will be 35 per cent owned by Nano veu, representing a US$70,000 investment
• It will focus on selling Antiviral Nanoshield products into the world’s second most populous country of over 1.4 billion people
• The MoU will terminate on December 31 unless agreed otherwise by the parties
• Shares in Nano veu are in the grey, trading at 1.5 cents as of 3:51 pm AEST