Pannuti acquired an additional 37.4 million shares following the acquisition of the remaining 19% stake in Leading Edge Instruments.
Last week Consegna exercised two call options to acquire the remaining share in Leading Edge Instruments in exchange for the issue of 252 million shares to the vendors.
Leading Edge Instruments holds the BreatheAssist™ technology that Consegna is moving to commercialise.
Consegna has eliminated one of the major hurdles in gaining market entry for new products with the BreatheAssist™ Sport technology falling outside the regulatory approval requirements in the U.S., Europe and Australia.
The significance of this is that Consegna now has clear access to the US$6.4 billion sport performance apparel market, which de-risks the BreatheAssist™ technology.
Importantly, removing the regulatory hurdle altogether also supports Consegna's licensing talks, allowing the company and its potential licensors to tap into this massive market.
Pannuti told Proactive Investors last week the company is in licensing negotiations with a number of groups.
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