Aqua Bio Technology ASA has entered into an agreement with Moana Skincare of New Zealand for the distribution and sales of Moana’s skincare products in Europe and the Middle East. The collaboration with Moana is ABT’s second step in implementing the Company’s expanded business model as announced on 11 January 2017.Moana Skincare has developed a portfolio of 19 skincare products. The majority of the products are based on potent botanical extracts from plants found in New Zealand’s nature and that have been used in traditional medicine by the country’s indigenous population, the Maori, for centuries. Moana skincare products are also based on a rare seaweed, found only in the Pacific waters of New Zealand. All Moana products have documented positive effects on the skin.Moana products are currently sold in the Pacific region as well as in a few markets in Europe. ABT has been awarded exclusivity for distribution and sales of the products in Europe, the Middle East and Africa (EMEA).“We have tested Moana’s product on a group of consumers and their response is overwhelming. The products are developed for sensitive skin and targets the most demanding customers and professional users. We see a huge potential for the Moana product line in the EMEA markets,” said Arvid Lindberg, CEO of Aqua Bio Technology.The agreement runs for the next eight years and gives ABT exclusivity for any new Moana products in addition to the 19 products currently covered. Under certain conditions, ABT has the option of acquiring up to 30 per cent of the Moana shares. Should the owner of Moana decide to sell all shares, ABT has a right of first refusal for the entire company.For further information, please call Arvid Lindberg, CEO, telephone +47 9824 5410Aqua Bio Technology (ABT) has launched several cosmetic ingredients used in skin care products globally. Skin care is the fastest growing segment in the cosmetics industry, where ABT’s ingredients have established a foothold. In addition to ingredients from its own technology, ABT also commercializes novel technologies/ingredients for partners, for use in skin care products. Aqua Bio Technology is listed on the Axess market of the Oslo Stock Exchange.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.Attachments:http://www.globenewswire.com/NewsRoom/AttachmentNg/4fe3398e-d6b5-4fb4-9c7e-7e1720afd80c