As we head towards the end of the year, Transworld's continued growth stays on track with a number of new and exciting developments.
Transworld Group's CEO and Director, Jamille Cummins, recently updated us on the progress of the Group’s projects and what we can expect going into the remainder of the year.
As it was reported earlier this year, Transworld renewed its focus on raising funds to support its planned growth. As a result of this, we are in the final stages of completing a funding initiative which will see Transworld Capital become the group’s intra finance vehicle.
This new opportunity is the culmination of six months of work by Transworld's senior executive directors to realise our capital requirements that will enable us to support the ongoing funding of new and existing projects by providing equity and or debt capital financing to the Group’s SPVs.
Transworld's existing portfolio has continued to evolve with positive developments occurring across the board, including the launch of the new FIM website and TASSEA brand, reinforcing our ongoing commitment to development of natural resources in Tasmania.
Adding to Transworld's expansion in the region, it is with great pleasure that I can announce Transworld Resources’ successful bid of abalone quota units and related IP. Transworld Resources are currently working to finalise and complete the contract.
This successful multi million-dollar bid aligns with Transworld’s vision to pursue the acquisition, development and commercial optimisation of primary food assets with a particular focus on assets originating in Tasmania. As a result we have commenced identifying new seafood assets that we can add to our portfolio.
Transworld's remaining projects continue to be supported by ongoing development and we remain confident in our ability to meet the objectives and goals we set ourselves at the beginning of the year. However, we will continue to monitor the performance of the Group and its associated assets through this quarter and if necessary we will make any adjustments to our strategies.
Transworld continues to remain optimistic about its future growth, and we are thankful for the dedicated and ongoing support of our team members and stakeholders.