Investment in Fresho

Primorus has participated in two funding rounds so far for Fresho; in Q3 2016 we bought 1,111,111 shares at A$0.27 per share for A$300,000 and in Q4 2017 we bought a further 197,368 shares at A$0.38 per share for A$75,000. In March of 2019 we bought a further 107,244 shares at A$0.475 per shares. Our combined investments currently comprise circa 3.4% of Fresho’s share capital.

Fresho is positioning itself as a leading Australian B2B company servicing the restaurant, hospitality and food service industries by aggregating and streamlining the food order process via Fresho’s cloud-based platform, both customers and suppliers are able to make savings in time, money and wastage and also generate powerful reporting and business data analytics. To date Fresho’s customer base has been located in Australia and New Zealand with many of Australia’s most iconic restaurants and largest produce suppliers using the product however several opportunity for further international expansion are being explored. As of Q1 2019 over A$350m annualised gross order volumes are flowing through the Fresho platform and this figure is growing rapidly. We are hoping to monetise this investment I the next 12 -18 months.